To anyone planning on using the vouchers trick, Argos have discovered what people have been doing and now are getting defensive about giving out the vouchers.
I went this morning to get a PS3 and was refused the vouchers and was told that what I was doing was fraud (!) and she had been told by head office that morning not to give out the vouchers to people buying vouchers. So I asked her to contact customer services to clarify this as the offer did not state that you couldn't do this. She phoned and was told that it would be allowed if it was put through as individual transactions of £50 each and payment was by cash or debit card.
I think argos are going to amend this offer -as stated in the T&C - to refuse the extra vouchers for those people buying vouchers, so people might want to take advantage of the offer quick.
I got a PS3, 3 games + fifa 08 and an extra controller for £359.94 - Bargain.