How much is this worth?

I received something from Publishers Clearinghouse that says I can get $400 off of a DVC DIGITAL CAMCORDER. COMPACT CAMCORDER, DIGITAL CAMERA, PC CAM & MP3 PLAYER. 6.6 megapixel max resolution, 1.6" Flip-out Color TFT LCD Screen, Built-in Speaker/Microphone, 32 MB built-in memory --stores up to 320 still images or 10 minutes of video. expandable to 2 1/2 hours of continuous video, 4X Digital Zoom, Self Timer with 5, 10 or 30 second delay. OVER $400 IN SOFTWARE INCLUDED. It says it's worth $549.95. With my $400 off it leaves $149.95. Is this legid or a rip-off?
Thanks,
Bruce

Thanks for all of the quick responses. I DID receive this via snail-mail.
Take Care,
Bruce

all those email s are rip offs,

Funny, I just got this letter from Publishers Clearing House today. There's a total of six items. Each one of them have a $400 dollar check that I can use for the purchase of this Camcorder, an RCA Surround Sound Stereo, Luggage set, Gold Plated Watch/es, Dell Laptop, and Dell Desktop. Report It

The letter made it look like I have won a consolation price. Thru research I found out that these items are not only old or faced out, they are actual remanufactures. Report It

scam

Sounds like a typical rip off scam from publishers...it's a sales tactic...if it was actually something you won it wouldn't come w/ a pricetag...

When I am stumped for a value of something - I just log on to ebay -- if its listed by brand & features --- just look at prices. Sounds like a hel ov a deal to me.