http://www.seeedstudio.com/depot/WiFi-Serial-Transceiver-Module-w-ESP8266-p-1994.html
Yes, the price is $6.95 for a wifi module with on board TCP stack and low power management.. No stock of course and Chinese documentation only but its real and not vapourware or some powerpoint presentation by the look of it.
These low cost units are seriously making the Microchip and the other usual suspects look very expensive indeed. Time for a price cut or a lower cost module Microchip?
If you google the ESP8266 you also find some outfit selling them for $3.95 but the site looks a bit dodgy!
Now if we can only get a low cost barcode module a $50 wifi enabled terminal could be a future possibility!!