What is Apples policy...

This is where Apple blows big time. I think the only option is to return it, pay a restocking fee, and buy the new one, I saw someone doing that with an iPod. Then if it was a BTO iBook, I'm not even sure he *CAN* return it.

 

Would be an excellent question to ask Apple and report back to us.

In the mean time, this is the US Apple Store Terms and Conditions:
http://store.apple.com/Catalog/US/Images/salespolicies.html

"Should Apple reduce its price on any shipped product within 10 calendar days of shipment, you may contact Apple Sales Support at 1-800-676-2775 to request a refund or credit of the difference between the price you were charged and the current selling price. To receive the refund or credit you must contact Apple within 14 business days of shipment."

Note that it must be a price reduction on the SAME product, not a better but different configuration. You would want to get a quote on a reduced price on the prior configuration to prove a price reduction.

Otherwise they will take it back within 14 days with a 10% restocking fee if you opened the box (stock configurations only)

" If you are not satisfied with your Apple purchase of a pre-built product, please call 1-800-676-2775 for a Return Material Authorization (RMA) request within 14 calendar days of the receipt of the product. If the item is returned unopened in the original box, we will exchange it or offer you a refund based on your original method of payment. The product must be returned to the Apple warehouse within 14 calendar days of the issuance of the RMA. All products must be packed in the original, unmarked packaging including any accessories, manuals, documentation and registration that shipped with the product. A 10% open box fee will be assessed on any opened hardware or accessory. If you purchased your order using an Apple Business Lease, you may be asked to provide a major credit card (Visa, MasterCard, American Express, or Discover) for apple to assess the 10% open box restocking fee.

Please note that Apple does not permit the return of or offer refunds for the following products:

1. Product that is custom configured to your specifications
2. Opened memory
3. Opened software*
4. Electronic software downloads
5. Personalized iPods
6. Software Up to Date Program Products (SW upgrades)"