Since no one has chosen to address this query, let me share what I found out on my own shortly after I posted it: that was a phenomenal deal that I should have jumped on the minute I saw it. I did not and the unit was sold later that very same day.

I have since learned that the reason why the unit was marked so low had nothing to do with it being an LG product. Instead, and as I learned from a different sales rep and the showroom manager, it was because it had been sitting on the showroom floor for 8 months. In order to get it out the door and to be able to bring in faster-moving merchandise, the manager took the drastic step of marking it all the way down to 75% off. Why it didn't move faster defies explanation except for the fact that it was to close to avocado green in color.(Not exactly a popular appliance color in 2011. lol) But, for me, that color was no problem since the unit would have landed in my basement laundry room, far from public view.

FWIW, the showroom manager also explained to me that that model was one of about dozen or so other units of various models and manufacturers, that he'd marked at 75% off as "managers specials." He explained that he goes through this "get 'em out the door" exercise about once per quarter. It just so happened that the day I casually strolled into the store, that Kenmore Elite gas steam dryer was the last of those "specials" still sitting there. With a price tag like that, it was screaming for me to take it home. But, again, having been out of the laundry appliance market for so long, I didn't recognize it as such. :-(

Oh well, if there's anything I've learned from this it is: (1) do your homework before you hit the showroom! This way, you at least have a basic understanding of what you're looking at and know whether or not something is a good deal when you see it and (2) if you're looking to make a budget purchase, give yourself time to scour the scratch and dent showrooms on regular basis.