You’re probably thinking what I’m thinking: Wal-Mart (WMT) should be selling this Hewlett-Packard-made laptop for at least $100 more. So what’s the catch?

I can’t find one. It’s sold in stores only, so maybe Wal-Mart figures it can steal electronics foot traffic from Best Buy (BBY) and gain bargain buzz just before the holiday season kicks off. And they’ll only get cheaper at the end of the month.

See the product page here, or just check out this item description from walmart.com:

The Compaq Presario V5305WM Notebook PC provides reliable performance and superb value, engineered with the quality you expect from a world technology leader. Pre-installed security software helps protect you from viruses, spam, spyware and other online threats, while the 54g802.11b/g WLAN modem support lets you maintain a high-speed wireless connection.

• Mobile AMD (AMD) Sempron Processor 3300+
• 2.00GHz processor speed
• Up to 1600MHz system bus running at AC/DC Mode 25 watt
• 128KB L2 Cache
• 512MB 333MHz DDR System Memory
• Max supported 2048MB
• 24X DVD/CD-RW Combo Drive
• 60GB (5400RPM) Hard Drive
• ATI RADEON XPRESS 200M IGP with 128MB DDR (shared)
• Integrated 10/100Base-T Ethernet LAN (RJ45 connector)
• 54g 802.11b/g WLAN with 125HSM / SpeedBooster support
• High Speed 56K modem
• 101-key compatible keyboard
• Touch Pad with On/Off button and dedicated vertical and horizontal Scroll Up/Down pad
• 15.4″ WXGA High-Definition BrightView Widescreen (1280 x 800) Display
• Altec Lansing Audio
• PC Card Slots: 1 ExpressCard/54 Slot (also supports ExpressCard/34)
• Available External Ports: 2 USB 2.0
• 1 Headphone out
• 1 microphone-in
• 1 VGA (15-pin) 1 TV-Out (S-video)
• 1 RJ-11 (modem)
• 1 RJ-45 (LAN)
• 1 notebook expansion port 2
• Accessible Memory Slots: 2
• Security features include: Kensington MicroSaver lock slot
• Power-On password and also accepts 3rd party security lock devices
• Software Included: Microsoft Windows XP Media Center Edition
• Windows Vista Capable
• HP Total Care Help & Support Center
• Wireless Home Network
• PC Recovery (Softthinks Restore Solution)
• Microsoft Works
• Microsoft Money
• Microsoft MSN Encarta Plus
• Microsoft Office Activation Wizard
• Sonic Digital Media Plus
• Adobe Acrobat Reader
• HP Games Powered by WildTanget
• AOL Music
• RealRhapsody
• Muvee AutoProducer DVD Edition with Burning
• Microsoft Windows Media Player
• HP PhotoSmart Premier and Vongo
• Dimensions: 10.2″ (L) x 14.1″(W) x 1.38″(min) /1.77″(max)
• Weight: 6.4 lbs