Microsoft's Live.com program is offering 30% cashback for Ebay "Buy It Now" purchases made using PayPal. For example, you can get a Canon G10 for $350 or a Panasonic LX3 for $330 (before shipping).

Basically, this is a Microsoft program to get people using Live.com search. If you click on a sponsored Ebay ad on a Live.com search, use the "Buy It Now" option, pay using Paypal, and register with Microsoft, they (Microsoft) will send you 30% cashback (up to $200 maximum cash back per purchase) after 60 days. It sounds like a lot, but I just used it to buy a compact, and it was relatively quick and painless. Fingers crossed I get the cash back =).

See this post for the specifics, including an example of how to use the deal to buy a Panasonic LX3.

Make sure you buy from a good seller. At a minimum, make sure there is recent positive feedback from buyers who bought valuable photography gear, and double check with the manufacturer website before believing that any Ebay seller is an authorized dealer.