One slight caveat:
If this is the shop I believe it is, I bought a Canon ip4200 from them a while back, which was DOA. Initially, their support line was very helpful but it soon degenerated. Despite the claims on the website regarding refunds etc, it took me several weeks and numerous 'phone calls to obtain an RMA and sort out my refund, all for a palty £38. I didn't see any action until the store was reported to both the auction site and the associated internet payment site and I had contacted both Canon's head of Public Relations and Digital River, with whom the store were associated.
Naturally, I left negative feedback and was then summoned into dispute resolution to ask me to withdraw my feedback. I was offered two bribes to alter my feedback, in clear breach of the site's trading policy. At that point mediation ceased as I stated that I was not prepared to withdraw my feedback given their concerning practices. Not long afterwards, the store temporarily disappeared from the site. The rumour was they were closed down by the administrators for shoddy trading practices. (Though I reiterate, this was only a rumour). I am still awaiting an additional payment to cover my time and expenses sorting out the claim, which was promised on two seperate occasions by two seperate customer services Team Leaders.
I am also aware of a buyer who purchased a £1300 lens which arrived faulty. After three months, he was still fighting to secure his refund.
I think the message is, you're very likely to get a great product for a good price, but please be aware of the possible issues if things are not in full working order.
For dSLRs/lenses etc, is it not worth investigating a certain nice man in Scotland, whose prices on new equipment are highly competitive and offers decent customer service at prices not far above the refurb store? Not sure if he offers compacts, though?