Noticed that the refurbished price of the iPod touches were recently reduced to $239 (think they were previously $289).
Obviously not brand new but Apple's reputation for refurbished products is well known.
I know that the specs are getting pretty dated with only an A5 processor but it is $50 cheaper than buying it brand new at Officeworks and $90 below RRP.
Bought several iMacs at refurbish prices 7-8 years ago, still going strong.
Plus I got an extra wireless mouse with one and extra hard drive space in another.
When you understand quality control and 'batch' testing of new products, you understand that these refurb ones have been throughly tested by Apple and given the same 12 month warranty as brand new ones, you realise that refurb isn't so bad after all.