I've read where Costco has some gray-market litigation pending with Omega over watches they are selling. However, the selling of gray market cameras is a new one on me. My understanding is that for the majority of Canon sales in Costco or Sam's or BJ's that they are package deals negotiated between the stores and the manufacturer. In fact, Costco Wholesale is listed by Canon as an authorized dealer.
I bought one of these during this Christmas buy season. Granted, it was at a more substantial discount, but I'm entirely pleased with it and have had a few treks of a mile or two with comfort.
Regis, please have bad day once in while, so the rest of us can have some hope. I'm getting tired of passing my iPad to the wife so she can see your shots.