After getting a few PMs about getting the discount on cameras that are more expensive than that price point, I have decided to post up what I did. In addition, if someone can find me a host, I will take a pic of my reciept with my new camera so you can print it out and show them if you are having trouble!
So, it is Target policy to substitute items of the same product category BUT at the manager's discretion! So, the thing is, a lot of managers can interpret it however they want (i.e. for items of the same price). On the raincheck, however, it says you can substitute anything in the product category. Here is how I convinced the manager at my Target despite him taking this stance, that the item must be very close in price:
I asked for the vivitar that was on sale, and when they told me they were out of stock, I asked if I could get a raincheck. Then I proceeded to look at all the digicams they had, picking them all up, seeing their ease of use and determining what was useful for me. I just wanted a pick up and go camera, and the sony dsc-u30 was perfect. It was tiny and I have read a few favorable reviews, so I figured, what the hell, might as well try to get this one. As it was a $200 camera, I wasn't sure I could pull off getting the discount.
First I tried to do it through the cashier. Usually if you can convince the cashier without having to talk to the manager, it is easiest. Then, he called the manager because he was a bright young lad and didn't want to get in trouble for giving someone a ridiculous discount. So, the manager told him over the target phone system that he wouldn't allow it on such , and I asked if it would be possible to talk to the manager about it so I could understand the policy.
Next, the manager came out and he tried to tell me that the discount was ONLY for like items, which, in his mind were items similarly priced. I pointed out the raincheck says that it works for ANY item of the same product description. Then we talked for a while and I said that I wanted the vivitar, but when I got my raincheck, I couldn't resist the discount on the other digicams. So he went back and forth a bit because my friend picked up some nice $300 olympus and he was telling us there was no way he could give us a discount on these expensive cameras, especially at 33%.
In the end, he finally compromised with me because I wanted to work with him. I was really polite even though my friend kept badgering him for a discount and it was hurting our cause, but I was persistent(be careful when you are with friends and trying to get a deal!). The manager finally said he would allow the discount for a camera up to $200, even though it was a stretch for him, but not for anything more because the discount on the $300 camera would just be exponentially larger than the original discount off of the $130-150 camera. So THAT was when I suggested, well, if you are offering me $66 off my $200 camera, why can't you just take $66 off my friend's camera too so that he gets a decent discount without going over your discount limit? So he did that. In addition to that, you have the option of getting another 10% off by signing up for a target credit card, but that is up to you. I hope that answered everyone's questions!