we took advantage of this yesterday. I had a 1st gen 16gig, online it said it'd be worth $65, but in-store they gave me the $200 - I probably could've used the card for anything, I don't know if the sales guy would've cared. Anyway, I bought the mini - on sale for $329, so I paid $129 for it, plus they give you a $25 gift card.
The thing I don't get it is that the ipad mini is now $299 and Target is selling it for $329 at B&M stores? Even target.com states its $299 now. Even with the $25 gc it's 5 bucks more than buying it Apple's stores. Well, I'm going to my Target tonight after work and when I wipe my original 16gb to trade it in.