This deal has ended.
Buy.com now has the XBox 360 Wireless Controller with Recharging Kit (red or black) on sale for just $39.99. Shipping is free and there's no tax (except CA, MA, MD, NY, TN). This is currently the best price online, matching the all-time low we've seen. I don't expect it to last more than a day or two. Compare it to $70 at J&R.