We’ve seen this before. Apple, when they are about to do price drops start pushing the refurb prices way south. This month, the Apple Store started dropping the refurbished 4Gb Nanos to $129 and the 8Gb ones to $169.
The iPod Classics dropped even further to $209 for 80Gb and $299 for 160Gb.
iPod Touches? $229 for 8Gb and $329 for 16Gb.