Maybe a lot of people have same problem with I/O magic. I ordered 40G harddrive from Staples on 11/21/2007 and sent my rebate to i/o magic immediately.
Then story started:
Obviously, They never receive your rebate form at the first time.Ok, never mind, FAX and call again , Then I was told they system will show new rebate information after 3 months.
3 months later, On end of February, called again, They said, we don't have your information in our system. Ok, never mind, FAX again. Ok I could find my information on http://www.rebateservices.com.

At the middle of Mar, called they, The REP said,your rebates will be sent in two weeks.

Please let me copy and paste.

At the middle of Apr, called they, The REP said,your rebates will be sent in two weeks.
At the middle of May, called they, The REP said,your rebates will be sent in two weeks.
At the middle of Jun, called they, The REP said,your rebates will be sent in two weeks.
At the middle of Jul, called they, The REP said,your rebates will be sent in two weeks.
At the middle of Aug, called they, The REP said,your rebates will be sent in two weeks.

TODAY ,9/03/2008, I GOT MY CHECK!

SO GUYS, NEVER GIVE UP.

I was like you! Did the same thing, bought the 40 gig from Staples in Nov. My story line was like yours. Resent the rebate twice, promoised it would come in two weeks for months. And like you just got mine, I think it was the 3rd also.

I really had given up on it by mid-August. I read the 10q statement for I/O magic. I don't expect they will be around much longer. Last I checked their stock was selling for 25 cents a share

interesting market reading about I/O magic

Rebate check finally arrived today...one year to the day that I made the qualifying purchase. Will never buy I/OMagic products again.