I've bought a number of items besides ammo at Cabela's, and got some good deals when I combined a Cabela's sale with Cabela's coupons, Cabela's bucks, and a manufacturer's offer.
Sadly, Cabela's has seriously cut back on their coupons - and my Cabela's shopping has diminished in proportion.
Next year we're going to be getting a Bass Pro Shops store - we'll see if the local competition has any effect on local prices. (Probably not - both are national chains.)