I'm in Manila right now and I saw one of the KM stores here selling all of their cameras at outrageous prices. The 5D was priced at around 15,500 Philippine Pesos. That's less than 300USD for the camera and the kit lens. I asked the salesperson why they're selling the cameras at such prices, she said that they're clearing out all their KM inventories.
$300 USD for a camera and lens? Now, that 's a good deal (unless they are very warm to the touch). :-)