It's been my experience that Canon "rebates" are fake, in that they save you no money. When I was buying my 7D + 18-135mm kit, a $300 rebate did not change the price. Same for the 70-200mm f4 is usm I just bought. Before the rebate the price on Amazon was $1200. Once the $150 rebate started, Amazon showed an MSRP or $1350 and sold it for $1200. The "rebate" wasn't a rebate. It was a marketing ploy to make people think the price has been lowered, when in reality, its the same price as before the rebate.Now that Canon has MAP Pricing, the Rebates are real. Canon has always required that Rebates be given based on the MSRP, and, in the past, that has indeed resulted in higher prices at discount stores.
However, thats not the case any more.
$2099 for a 70-200mm MKII lens is a good deal, but I bet I can find one either for less, or in a package deal before the end of the year.