It works! I used the $20 offf $200 coupon to buy 2 DS Lites (one black, one crimson & black), along with taking advantage of the free $10 reward card for every $50 gift card purchased. I purchased 4 cards, so spent $200 to get $240 in gift cards. That along with the $20 off coupon netted me two DS Lites for about $106 and change each! Plus I got the $15 off $25 reward coupon on the receipt for a purchase between Friday Nov 30 and Sunday December 2nd, which I'm hoping to be able to use to pick up a copy of Mario Party DS for $15 + tax. I have a $10 off $25 from a previous DS buy (that one for myself, that I used the 20% off coupon with - it worked then - so may pick up something else as well. The two DS's I bought today are for my kids.)
In true CAG fashion, I'm going to try to do a return and rebuy on Friday morning (bright and early at 6 AM), to hopefully net two $25 gift cards by mail (one for each DS or PSP purchased from 6 AM to 11 AM Friday.) Not sure if they'll let me do that, but I'm certainly going to give it a shot. I can't scoff at $50 in free gift cards. If I can get that it will be like getting the DS's for $81 each, if you consider the gift cards as cash - since kmart is a mecha for cheap video game deals, of course I can find stuff to spend them on, so I consider them good as cash.
The cashier did initially balk at the coupon because they thought it had to be $200 on one item, though the coupon clearly says off a $200 purchase. I asked him if he'd just try it and he did and it worked. Scanned without problem. Then he balked at my stack of gift cards, but only again because he thought you could only use one at a time. He said he just didn't know, so he called the manager for help and that guy just ran the cards through one at a time, no problem. The manager didn't balk at the coupon either.
I printed mine on a color laser printer on plain paper. I scaled them to, I think, 325% of normal size, as otherwise they seem to print very tiny. I opted to darken the image up a bit because it looked too bright as originally provided. In OS X you can just choose the Quartz Filter "Lightness Decrease" in the Print dialog. Of course whether or not you need to do that probably is a matter of the individual printer.
So, a big success for me, and my kids are going to be blown away as they were expecting only get used fat DS's.
Edit: oh, and they had stacks of those 32" Olevia LCD 720p HDTVs that will be on sale tomorrow for $419 ($399 with the $20 coupon! Even cheaper with gift card deal if you can get it!) They are $699 today. I'm definitely tempted....