A qualified yes, IMHO.
The difference, I think, is in the breadth of the sales. For example, I've gotten BF emails from software vendors offering 30% off their product line; that typically does not happen more than one other time in the year, and it's usually tied to a new-product release, not everything in their line. A company from which I've purchased cooking thermometers occasionally has sales on products here and there, usually in a limited choice of colors or capacities; for BF it's their lowest price, maybe only by a few dollars, but on all the colors and capacities. Sometimes discounts are offered on an entire brand of merchandise, not just what the seller wants to move or which they think will attract the most buyer attention.
Some of the cheapest TVs and electronics being offered by the big-name stores -- the "doorbusters" -- typically are older stock or less-featured models or SKUs built for them -- but some models are current. The iPad we bought yesterday likely won't come at that discount again until Apple offers it through the Refurbished section of their Web site, and that will be a few months from now and probably not a 25% discount that soon anyway.
So, yes, you still need to be a careful shopper. You might be able to match or better a price by waiting (for example, TVs are supposedly cheaper around Superb Owl time). But, in many cases, you'll find lower prices or upgrades on things that don't often see them.