I know everyone is avoiding gift cards this year because it seems those are the only things you can't get a deal on. Well, there are at least a few deals I'm aware of out there, probably more than what I'm posting here. I'll add more as I get them.
Best deal: The Melting Pot - buy $100 in gift cards, get 4 $25 bonus gift cards FREE - check the restrictions on this though. They're more like coupons. Each bonus gift card can only be used during a certain quarter of the year (2010) and can only be used on a 4 course dinner. Still, it's the best coupon out there for the Melting Pot!
OSI Restaurant partners (Carrabas, Bonefish, and Outback) have a buy $100 in gift cards, get a $20 bonus gift card (bonus card good Jan 1st through Feb. 10th, 2010)
Some more deals at: http://dealnews.com/features/Gift-Card-Deals-A-List-of-Gift-Card-Discounts-Bonuses/327253.html
Plus always check out Restaurants.com - there are always coupon codes for 80 and 90% off these gift cards (like get a $25 gift card for $2) - You can get the coupon codes on Couponmom.com. The number of restaurants participating is limited and there are some restrictions. They restock these every month, so it's probably best to check it out at the beginning of the month before the good ones are all gone.