NordicTrack offers the NordicTrack E 8.7 Elliptical, model no. 23948, for $799 with free shipping. That's $501 off and the lowest total price we could find. It features a heart rate monitor, adjustable stride length, 22 resistance levels, iPod compatibility, and water bottle holder.
A close price: Sears offers it for $799.99 with free shipping.