I put in an order to Futurlec earlier this year as a bit of an experiment. About $25 worth of components (21 different types). I searched around a bit online first and found a forum topic where there was quite a bit of discussion about them (don't have the bookmark with me now). I don't remember seing anyone with solid signs of being ripped off. The general consensus was that they do ship what they sell, but you pay for the cheap prices with a fairly consistant one month wait for arrival in Aus.
The advice I saw there was to keep on them with emails (the website request to submit PayPal orders via Email was a good way to start this). So I did, successively requesting they inform me of every step along the way and the package arrived well within a month (can't remember exactly how long, but before I started to worry). It was posted three or four days after the order was placed.
Until I got the parcel I thought they were in Asia, but it seems to have been sent from (or at least through) Germany (Frankfurt if I'm reading the postage sticker properly), which in my books is a plus. Packaging was good - padded bag inside a padded bag and all components in stapled plastic bags. I checked and every component was accounted for in the right quantity. Only slight wrong was that I recevied two LM555 chips while (partially as a test) I ordered one NE555 and one LM555 (separate entries on the website). technically they did me out of five cents as the NE555 was 26c Vs 21c, but it's not enough to put me off (and to be fair their description of the NE555 is "LM555/NE555 Timer", but they _are_ slightly different internally (according to the datasheets))
Also, their Crockodile Clips are insanely cheap ($0.05 each), but man are they slippery!