Last fall I signed up for a free ipod in December. I know several more people who have gotten theirs too so it works.
It is not a hoax. Also I received no additional spam by signing up for the offer. I have several people who have been afraid to complete an offer because of this. If I was a little hesitant about I would sign up for a free gmail account and delete all the spam. But I used my normal email and actually think I have less spam since the fall.
Some offers you have to fulfill are pretty cool anyway. I got an airline ticket on the one I signed up for in October. So for $5 if one more person signs up, I got a plane ticket and an ipod.
Anyway, I do need one more person who is willing to do this and they might get an ipod themselves.