I have been considering getting a Windows VPS for a while, and SoftSys always have cheap prices, but this deal is $10 cheaper than their cheapest hosting! The only thing you lose out on is the "SmarterBundle Pro (Worth $800)" which I would not use anyway. Also there is a $20 setup fee with this cheap deal (normally setup is free).
This is a Hyper-V virtual server which means you get 1GB of dedicated RAM, and 1 vCPU core. So its basically a full Windows server at an extremely low price. Only down side is its not hosted in Australia and also I cannot vouch for the quality of the service although I did use their regular shared hosting once and it was fine.
I think the deal is related to the launch of the new Microsoft hosters database (http://www.microsoft.com/web/hosting)
Microsoft promotion prices:
http://www.softsyshosting.com/Windows-VPS-Hyper-V-MS.aspx
Compare it to their normal prices here:
http://softsyshosting.com/Windows-VPS-HyperV.aspx
vCPU != CPU. Remember, Virtual Private Server is as the name suggests, a virtual server. Elements may be said to be dedicated, may infact be managed to appear isolated and available just for you. Careful with longterm subscriptions.