just got another fake PayPal email. This one is better than others because it does a clever job of faking IE address toolbar.
Anyways, see for yourself:
go here:
http://happynewsyear.com/megid/ (a link from email)
Then click on any link and you will get to the target hijack page with a fake address bar.
yeah, btw, don't try to login, you've been warned