Discount student versions of Microsoft Office, Windows 7, Visio?

Is "The Ultimate Steal" legitimate and for-real, or a rip-off scam?

For the last couple of years, Microsoft has run a website called TheUltimateSteal.com. There's not a great deal of information on the site, but it is a totally legitimate site operated for students only. The name, the prices and combined with the sparse info, may make you wonder. But if you can believe this cautious, cheapskate, I can report that the software is fully functioning and checks out with Microsoft's Genuine Software checker.
The cost for Office Ultimate 2007 (as of Feb 2010) is just under $60, and $56 for Visio. There is also a $65 version of Windows 7 Professinal Upgrade (32- or 64-bit version), but I haven't yet given that a try.
So, how do they know you are a student?

1. You say you are a student
2. You use an e-mail address that ends with ".edu"

You will be downloading the software, which is quite a huge download. You need a credit card. And you need to receive your confirmation at your ".edu" e-mail address.
I'm no fan of Microsoft, but I am impressed that they have offered such a great deal to students like me. Without these savings it would cost hundreds of dollars more for me to buy software that will likely be out of date by the time I finish school, and may only use as part of my classroom exposure. Thanks MS!