I work for one of the largest UK resellers of IT, we have gone through the rigorous proccess with Cisco to become gold accredited.
Unfortunetley with Cisco is that they have a very inconsistent pricing strategy for Europe.
Firstly ALL Cisco kit gets shipped into Amsterdam, where it is then distributed to the varying countries, with price tags that vary hugely from country to country.
This opens the door to smaller resellers or brokers selling kit brought from Germany or the like at hugely discounted price that gold partners have worked hard to achieve and get undercut.
If Cisco find out, they do and will refuse the right to SmartNet that kit, but this is quite rare as they usually wont find out.
Annoys me as I work hard to get my clients the best price I can and build up good relationships with them and being undercut that way can be frustrating, which is why I usually stick to vendors like HP, Dell and Juniper that will actually support me.