REI Outlet is having a one day sale today - extra 20% off on top of existing clearance prices for outlet sleeping bags. At the same time there is a free shipping offer for REI members for all orders over $50 that also ends today.
Here is the link to all sale sleeping bags: http://www.rei.com/outlet/category/22000021
Here are the two best deals in my opinion. Usually you can't touch a 750 goose down bag for under $200.
REI Sub Kilo +20 Unisex, 750 loft goose down, 20 F rating, 29 oz (822 g) - $126
REI Sub Kilo +15 Womens, 750 loft goose down, 15 F rating, 31 oz (879 g) - $126
I own the men's bag, and it compacts down to the size of a football or less.