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Reasonable said:
Maybe. I 'd really love to know who's funding that Wal*Mart deal. I reckon it has to be MS, why would Wal*Mart want to burn $100 of their money per console. I can only assume MS, seeing recent Slim sales, decided they're rather spend a fair amount of money to give themselves a decent change to stay ahead of PS3 in US.

Does PS3 have any comparable deals, or is Sony just banking on current price, etc?

Wal-Mart had an identical promotion for the PS3 earlier this year.  Just like sony used the PS3 as a loss leader to make money back on SW, Wal-Mart is hoping to use the gift cards to get people shoppipng more at their store, and make more money back in the long run.