The display is set up right next to the pro counter. I asked an employee about it and she said they had just set it up today and had not even looked over the info about it yet. She grabbed a sheet of paper regarding instructions for the promo and looked over it with me. From what I could gather, they are supposed to accept "any competitor's tongue and groove pliers". The promo is from now until the end of the month, or until supplies run out (it appears that there was what was on the display, plus another box full of pliers). Also, these are straight jaw, NOT water pump.
As to clarify for the quality of these pliers, I bought the two pack (waterpump type) from Sears a while back. I am VERY impressed with these and in all honesty perform just as well as my Knipex. The handles are a little bit bulkier, but in turn are also more comfortable. I also like these a lot because you do not need to hold the button to close the jaws, only open them.
I know I will be taking my crappy Husky x-mas promo tongue and grooves in. I personally like these pliers. Given that this exact type made by Irwin was never made in USA, I have no problem with them being made in China. It is when a product that USED to be made in the states is now made overseas, where people see a difference in quality.