Home Depot are selling a Ridgid 12gal/5.5HP shopvac for $29.
The web site says on-line only and sold out. However, I just returned from my local store where they had a whole stack of the suckers ready to go. In and out in < 5 mins.
Only had the thing a matter of minutes but it looks pretty decent and the price was right. If you need a shop vac, you might want to try your local HD.
OSH/Walmart/Lowes/Target et al all seem to have shop-vac deals but they're all much smaller and less powerful machines.