The Gift and Award Bible are a great price, yes, that is indeed correct. Not totally thrilled with the quality. Reading it makes you dizzy, and it feels like it's crammed in one page. The cover is not great and will probably rip very soon. If you're looking for a ESV Pew Bible that is great quality, easy to read in letter-size, I HIGHLY RECOMMEND you get the Pew Bible Hardcover, (specifically the large print is excellent to read). They are wonderful, durable, and will last you a while. I regret getting this Gift and Award Bible.
I purchased this bible to use as a cheap study bible, one that I could highlight and mark in and not worry about wear and tear. The bible quality is what you would expect for $6.99. Its imitation leather. This bible has actually become my everyday bible. Before each chapter it gives you a summary and short history of each book which actually was very educational. I read everyday and carry this bible with me almost everywhere. Eight months in and its holding up fine. Great buy for the price!
I was hoping for the bonded leather and thin quality paper. I tried to read between the lines to gauge the quality, and was a little disappointed. Not a paperback by any means, but not grade A quality either.