Rain-
It's worth it to wait till January! You have to check the site right after Christmas and all throughout January-amazing deals. You have to be vigilant though, especially in the smaller sizes. If you find the perfect item at the perfect price-don't continue shopping around the site as you may lose the item. Purchase immediately...shipping be what it may. J. Crew doesn't hold items in your cart, and others can buy them out from under you-learned this the hard way.
Gatsby-lol... I bought a Lady Day Coat last January for $140.00ish! Crazy! Also bought another coat. DF thought I was nuts..
My real 'problem' is is the cashmere....I live in it, and have way too many. They recently added some colors/styles, and I'm already plotting my next Cashmere haul.