Wow, the Canon EOS M (which is the topic of my recent book Canon EOS M: From Snapshots to Great Shots; here’s more about the book) is now on sale for just $299 for the model that includes the 22mm f/2 lens. The package that includes the 18-55mm telephoto lens is just $349 (Amazon.com link; choose your lens preference on that page*).
[Update, July 5, 2013: Looks like demand has been high! Amazon has a 1-3 month backlog at that price (but priced higher if purchased from other resellers), and B&H also has a backlog, but only of a few days for the black model.]
Originally, the camera body and 22mm lens cost $729. Almost everything about the camera was great, but it was hobbled by slow autofocus. That was fixed (at least for multi-point autofocus; the single-point system seems to be the same) last week with a long-awaited firmware update.
* If you click the Amazon link and order the camera, I receive a referral fee, which helps support this blog and the work I do. Thanks for considering it!