Quite often Intel's top chips have street prices that are 10% (after shipping is included) under the official 1000 lot prices. Obviously Intel has lower prices for lots larger than 1000 otherwise stores will be losing money. If that 10% holds true, you will be able to get a 2.53 GHz P4 in your hands for roughly $220 shipped at the cheapest places. If you want to pay for a well known store like NewEgg, you might have to pay a few more bucks.
Edit: it often takes 2-3 weeks after the cut to reach the bottom. Next week, I bet the prices will still be closer to $240 (including shipping). Of course I don't have a crystal ball, so I'm just giving you estimates.