Wow, this is a great deal for prospective CS2 customers, who most likely already have Elements - I doubt people jump in and buy the full package without a lot of experience first, usually gained via Elements.
Do remember however that CS3 is looming up fast, with a likely $150 - $200 upgrade fee from CS2. However, it is still cheaper overall, if not by much, and if you hare happy with CS2 (and if you are a new buyer, there is more than enough there to keep you busy for YEARS) you have saved a bundle!
Great find Odin_aa!