Actually, the pricing at the A-E outlet stores goes something like this, using as a starting point the $295 MSRP for calfskin firsts.
$295: Current production firsts. (The outlet stores are carrying more of them now, partly from customer demand, partly because A-E is generating fewer seconds as a result of improved production methods, I have been told)
$222: Closeout (discontinued) firsts
$222: Current-production seconds
$169: Closeout seconds
The longer a shoe has been discontinued, the more the price drops. It is not uncommon to pick up closeout seconds at the outlets for $129, sometimes even less.
Also, the outlets have occasional sales and specials where you can get current-production seconds for much less than the usual price. There are also the semi-annual sales, when current production seconds are reduced by 15%. Being well stocked with A-Es by now, I personally would certainly wait for the next semi-annual sale to buy anything in A-E's current lineup. The sale reductions do not apply to closeout items, however.