Rite-aid has a similar program except the entire process is highly automated and can be done on-line. See:

http://riteaid.rebateplus.com/

Rebates are paid by check within about one month. No gift card option, but the ease of use is incredible. Plus, you can use coupons if you have them, driving cost below zero in many cases.

Major catch: One can only request a rebate once a month, so you have to accumulate receipts over the course of a month. Then, you have about one week to request the check. If no check is requested, no rebate and you hold a bunch of stuff you may not have really needed.

I have gotten about 5 timers and maybe 10 extension cords of various sizes out of this program. I am addicted and will probably end up addicted to Walgreen's, too.