I think this is a good price of a 2nd gen i7 notebook.
Price is $799 but you can further reduce the price to $788 not choosing Dell oncall help when you customize.
I believe you can also get $50 cash back if you use AMEX to bring the price down to $738 (http://www.ozbargain.com.au/node/45194)
Processor
2nd generation Intel® Core™ i7-2630QM Processor(2.0GHz base, up to 2.9GHz,Qual Core,8T,6MB L3)
Operating System
Genuine Windows® 7 Home Premium 64-Bit
Memory3
4GB (1 X 4GB) 1 DIMM DDR3 1333Mhz
Hard Drive
500GB 7200RPM Hard Drive
Display
15.6" (39.6cm) HD WLED True-Life (1366x768)
Video Card
NVIDIA GeForce GT 525M - 1GB (For QUAD Core CPU)
Optical Drive
12.7" SATA tray load DVD+/-RW (WIN7 HP)
Wireless
Intel® Centrino® Wireless-N 1030 with Bluetooth v3.0+HS (For Intel® Core™ i7 Processor)
Security Software
McAfee® Security Center™ (Multi-Language) - 15 Months Version
Primary Battery
2.2AHr 6-cell Lithium Ion Battery
Warranty
1Yr Carry-In Service after Remote Diagnosis
Wow amazing deal for an i7-2nd gen