New to the scene, you can now order a refurbished Kindle 2 for $219.00 (I've seen rumors that it was as low as $190, but that price must not have lasted). These are slightly longer than the original Kindles, but slimmer (same weight, though), have keys that require a more deliberate touch to activate, a higher graphics resolution, text-to-speech, a nicer interface for reading subscriptions and a wider Whispernet coverage than the original Kindle.
Both of the refurbished units have this info on the warranty:
All purchases eligible for Amazon customer service and 30 day return policy.That's the same as when I purchased a refurbished Kindle nearly a year ago (the one that arrived did have a problem with one key; Amazon shipped a new one as soon as I reported it and that one has worked flawlessly since). What was explained to me and has been told to others that have called is that it is the same 30 days, no questions asked return policy and the same one year warranty as you would get on a new unit. I know that both of the refurbished units that arrived were indistinguishable from brand new units and their packaging - the only tell-tale was apparently a bright pink, round sticker on the outside shrink wrap.
It's not too early to be considering holiday gift ideas (or too late for back to school purchases). However, make sure you do take it out of the box and test it thoroughly during the 30 day return period, if it is going to be a gift at a later time. That gives you plenty of time to get it exchanged, if necessary.