yea, i went to south coast (plaza) today and FAO is closing. It is %off lowest marked price, so I am sure if you rummaged through, you could find some hot deals. Overall, it seems that FAO is expensive so it brings the prices down to reasonable range. They had some stuff behind the glass. I am guessing those were higher ticket items... if you're into collecting dolls (barbie, stuffed, etc) and I think I even saw some star wars...
I ended up just buying some candy at the small 5 dollar per lb bulk put-as-much-as-you-want-in-the-bag place inside FAO.