Want a Free iPod Touch? Too Bad; Apple Just Pulled the Plug on this Beloved Offer

Now Microsoft's MSFT pledge to give away a free Xbox to college students who buy a Windows machine does not seem so ridiculous. In fact, it seems downright generous. In an effort to save money, try something different, or show just how powerful the company has become, Apple AAPL has replaced its annual buy-a-Mac, get-an-iPod Touch deal for students with a paltry $100 gift card that can be used at the App Store, Mac App Store, iTunes, or iBookstore. Ars Technica picked up the story earlier today, and while this might sound like a solid deal for anyone who already owns an iPhone or an iPod Touch, the reality is that a $100 gift card is worth less than half of both devices. Whereas Apple's prior deal made Microsoft look cheap (even laughable), Apple's current deal is a great disappointment. At the very least, the company should have offered a $200 gift card.