It makes sense; the new models announced at CES are just about to arrive and the old models are being cleared out or winding up production, so now is an excellent time to buy; if you’re okay with last years model.
As just two examples, Canon VIXIA HF S100 HD is selling for $795 right now, while the newer HF S200 is going for $999. The Sony HDR-CX100 is selling for $331, while the Sony HDR-CX150 is $549. Okay, you're getting last years model, but that may not be that bad, for while manufacturers continue to add new features and improve low low-light capabilities, the new years models aren’t always a huge step forward (and can sometimes be a tiny step backwards.)
The same is true for still cameras, though it's interesting that theCanon EOS Rebel T1i is currently priced the same as it's replacement, the Rebel T2i. I'd definitely wait for the latter, even if the T1i was cheaper!
So if you're thinking of getting a camera, now may be the time to do it.
- Frugal buyer: the best time to buy anything (February: Cameras)
Price history for Canon HFS100 at Amazon.com (from camelcamelcamel.com)
Price history for Sony HDR-CX100 at Amazon.com (from camelcamelcamel.com)