Dell's website is telling me that EPP customers get $500 off XPS machines. (vs $400 off for the i9200.)
Spec out roughly similar machines where possible (ie, 2.0GHz, 60gb HDD, same wireless NIC, etc.) and you get $2,466 for the 9200 and $3,187 for the XPS2. Even considering the graphics card the XPS2 has, I'm surprised at the $700 price difference...
With just the standard EPPS discounts ($500 off, 12% off) the XPS2 price comes out to $2,364.
Still, an impressive machine for the targeted gaming audience.