I decided to take advantage of the rebate and order a Shield 45 Performance Center with the Hi Viz fiber optic sights. Been hearing a lot of good about this one and with the rebate, at less than $400 I think it's a bargain. Before the rebate, the regular 45 Shield was about the same price when you could find it on sale. Now with the rebate, getting the PC version for the same price that a regular Shield used to sell for is a deal.
One thing I have noticed is that since the rebate came out, it seems that the selling price at many dealers has gone up. It seems that some are taking advantage of the increased demand of the M&P products by raising their price knowing that even if they raise the price a few dollars, with the rebate people are still going to buy.
When you factor in the savings from the rebate, people are still getting a good deal, it's just not as good a deal as it used to be in some cases. I guess depending on your point of view, the price was either raised because of higher demand, or because the seller knew he could make a little extra profit because people would still buy and take advantage of the rebate.
For example, the Shield 45 PC that I purchased was advertised $10 cheaper last week, but since it sold out and the rebates started, the price went up. It's still a good deal, but it seems a little shady to me.