This is the first decent price I've found for the SW3. Much cheaper than anything else I can find including Amazon ($248 USD) and the usual Hong Kong suppliers (~$270 - $290).
Note however that it's now on backorder with no date given for order fulfilment. Already tried getting the Sony Store in Nunawading to do same price with a firm 'No' being the response. Would be very curious to hear if anyone else is able to get PM in store somewhere.
Fine print clearly states: "Saving off selected models online and in Sony Stores. Valid until 11:59pm (AEDST) 10 Feb, 2015 or while stocks last. See product pages for eligibility".
Update: Nunawading are claiming as a franchise store they are not bound to offer products at the same price as what is found via the Sony Online store even though they are listed as one of the 4 Sony Centres in Australia. Best price they will offer is $278.
Probably the best first gen android wear device