Not nearly as good as the Q6600 deal they had... the Q6600 is a better processor. The Q8xxx series has less cache, lacks the VT and TET stuff, but gives you a faster FSB from what I recall. Dollar for dollar, the Q6600 is the better CPU, and at the $149 Fry's deal last week it smokes this deal.
With that said, if you're in the market for a good quad and don't care so much about the added features, this would be a pretty decent deal.