No, no, they slashed 1/3 of the price. A new Apple Extreme is £140. And just because it is on the refurbished store does not mean it is refurbished. While I understand it may be confusing, it has been proven that Apple puts previous models on the store at discounted prices, even though they have never been used. The model I linked to was released in Oct. 2009. The latest model has an updated chip to increase range and signal strength. I have the 2009 version and can confirm that it works great. I have it set to 2.4Ghz for my iPhone and Windows computers and the 5Ghz band serves my MacBook. On this network, I have a shared USB drive and printer (using the AirPort's USB port) that serves all of my devices well. In the event that I have company, I have a guest network setup that they can use, but without access to my drives and printers.