Cheapest 1TB 2.5" external drive I've seen so far. From page 17 of the JB Hi-Fi printed catalog that was delivered last week, dated 23 March (surprised no one else spotted it already). At first, the price made me think I was looking at a 3.5" model, but the product title, image and code match this:
http://www.jbhifi.com.au/computers/storage/seagate/expansion…
Unfortunately you don't get USB 3.0 for this price. On the upside, it doesn't have a non-removable VCD like some WD models, so it can be partitioned cleanly.
Apologies for posting this deal at the worst time of day - just before the stores are about to close :D
UPDATE: see JLsBB's post below indicating this is a misprint, and OwneddMuch's post showing a JB receipt that indicates some stores may still sell at this price. Good luck to those who'll be making a late pilgrimage to Officeworks :)