Got my iPhone 5 for $135 with tax today, and a new contract of course...
I went to a couple Wal-Marts in my area. I did not see anything about the Hi-Res iPads being on sale. I also wasn't inquiring too much about the iPads specifically, or calling around for them. But they appeared to have the usual price tag.
OP edited their post mentioning that the 20% price cut only applies to iPad 3rd gen (guessing wi-fi only). Still a great deal, in my opinion.