Soon, the iPhone 5s and 5c won't be so novel, as Apple is expected to release new versions of the iPhone at the beginning of next month. That's why AT&T is trying to clear last year’s models from the shelves by bundling the purchase with a discounted iPad.
Thus, If you’ll visit an AT&T store to buy one of the current iPhones, AT&T will also take $200 off the price of an iPad. And with the purchase of a 16GB iPad Mini, you'll save a nice $230, down from the $430 list price. So, if you want to save at least $200 and you want to get an iPhone and an iPad, then you should check out AT&T's offer.
However, what you need to take into account is that you'll have to agree to a two-year cellular contract for the tablet. So, the actual savings are more like $100—or $130, since you could already have gotten $100 off the list price by agreeing to a contract.
Also, you need to purchase your iPhone through AT&T’s NEXT installment plan, rather than agreeing to a two-year contract in exchange for a subsidy for the device. For the iPhone 5S, you will have to pay about $27 a month for the next two years. However, if you decide to leave AT&T over that time, there’s no contract penalty.