There have been better deals for Vintec Wine Cellars posted on OzB before so take this one with a pinch of salt.
This time you get to choose from more than just Penfolds, they've included Wynns Coonawarra and Wolf Blass.
You can source the wine from almost anywhere, including online, so take your time and hunt for good prices over the next couple of months and save your receipts.
/edit
Was just thinking that you could probably buy a case of expensive Penfolds (check the exclusions) and wait until you get your Vintec cellar and then refund the wine. Looking at all the big retailers, BWS has the best refund policy as it falls under Woolies policy of "we will cheerfully refund the purchase price where you have simply changed your mind and you return the product to us unopened, in its original packaging and with clear proof of purchase."
The T&Cs of the deal say they might ask for your original receipt at any point before you get the cellar. Note that a photocopy of a receipt is enough for a proof of purchase for Woolies so feel free to surrender your receipt to Vintec and keep a copy for BWS. As long as you can store the wine safely and go without the $180 for a few weeks while the cellar gets delivered, you could get it for just $299.
definitely not as good as last year :(