IF you plan on purchasing a new AT&T smartphone and new plan (not an add-on to a shared plan)
AND you are a USAA member/ eligible to join (recently opened to all Military ), this could be a good deal, and it sounds like the purchase price of your phone and plan don't matter beyond the $30/month plan minimum, so it could easily be combined with other deals.

OTHERWISE, this deal is not for you.

Links (login required): Link 1, Link 2

How to get a $200 deposit from USAA:

* Get a $200 deposit from USAA when you open a new checking account with direct deposit and purchase an eligible Smartphone from AT&T with a qualified two-year activation. (Additional restrictions apply.1)
* Existing corporate or government discount programs cannot be combined with this offer.
* A minimum $25 opening deposit is required.
* This offer expires June 17, 2010.
* Qualified accounts will receive a $200 credit on or by Aug. 13, 2010.

Fine print:

1 $200 deposit offer: Limited time offer. Offer good for new USAA checking accounts only. A minimum $25 opening deposit is required. The Annual Percentage Yield as of Feb. 22, 2010, on balances of $1,000 or more is 0.10% and may change daily. Provided your USAA checking account has active direct deposit and that you obtain qualified activation within the Offer Period, USAA will deposit $200 to your USAA checking account on or by Aug. 13, 2010 after qualified activation. Qualified activation requires an eligible AT&T voice plan and a new eligible AT&T data plan priced at $30 or more per month. Only available to Primary Lines, not shared plan additional lines (e.g., Family Talk plans). Offer may not be combined with any corporate discount programs. Offer available only through qualified AT&T online activation process. Wireless service from AT&T: Subscriber must live and have a mailing address within AT&T's owned wireless network coverage area. Up to $36 activation fee applies. Early Termination Fee: None if cancelled in the first 30 days, but up to $35 restocking fee may apply to equipment returns; thereafter up to $175. Some agents impose additional fees. Other conditions and restrictions apply. See contract and rate plan brochure for details.

I received an email from USAA regarding this deal; unfortunately the link requires a login. If you're not a member yet, try calling them...they're very helpful.

UPDATE: Let me know if either of the links work for you. This may be a targeted offer that only gets sent out to certain members (Not sure what the criteria are--I only have $50 in my USAA checking and savings accounts because I really only use them for insurance). I do have the screenshots of the email and of the offer if you want to try getting USAA to give you the deal. I just don't know how to post/send them.

This is one of my first posts, so please be kind, and fee free to move this to another topic/ change title.