They haven't dropped the price of the Kobo ereader, but they are offering a $20 gift card with the device. From the press release:
Borders Group, Inc. (NYSE: BGP) today announced that the Kobo eReader will now be bundled with a $20 Borders gift card, and double Borders Bucks that can be used towards a future Borders purchase. At $149.99 the Kobo is among the lowest priced eReaders available, and bundled with the gift card, delivers the best eBooks value available today.
So this means you get the Kobo ereader and $20 store credit for the same price as the Nook Wifi. I still think the Nook Wifi is the better value.