They had an I7 combo for that price a while back.
Are you sure about that? You can't get the i7 alone for anywhere near that price, let alone an MB combo.
[edit]: Frys did have the i7 with a Biostar awhile back for $240 after a $20 rebate. Not exactly the same price ($30 more, and you end up with a Biostar), but still a good deal.
Actually I was wrong about the price. It was a BF deal for an i7 860 with the Biostar TP55 MB for $229. The Biostar MB is actually not bad although it is void of certain features like SLI etc.
Fry's does a lot of Intel combos. A month ago they had the i5 750 with a Gigabyte P55A-UD3 combo for $210 AR ($10). Wasn't too bad a price.