How much is it worth to you to have a machine that is beautiful to look at and which has as few extraneous cables as possible? For many people, the answer is "very little" and those are the people cheap Dell grey boxes are for.
On the other hand, if you want, say, a sub-$1000 laptop (just something for email and net browsing on the go), Apple can't help you at all, and in that regard price comparisons are kind of irrelevant: you can pick up a Dell laptop for $600 that probably wouldn't be enjoyable for heavy everyday work but is fine for the casual use most people intend on when they purchase a machine.
What more do you need for heavy everyday work?
store.apple.com -> Refurbished Mac -> Apple Certified Refurbished MacBook -> $899.00, free shipping. Judging by the graphics chip and CPU, it's the latest revision, released in February.
How much is it worth to you to have a machine that comes in a white box (instead of the brown refurb one)? For most Mac users, the answer is "a couple hundred dollars" and those are the people new Macs are for.
Also, I spend the most money on machines for 'play', like my new Inspiron 1720.
Newegg bestsellers is a great place to find anything. Those are all $500 - $750 & all very decent.