That's the right idea, but I think you have a typo on your expire date. Here's the text they have:
TO PARTICIPATE IN THE OFFER YOU MUST COMPLETE THE FOLLOWING AT CONNECTTM EBOOKS (the "Service" or "CONNECT eBooks"), ACCESSIBLE AT
http://ebooks.connect.com (the "Site") ON OR BEFORE DECEMBER 31, 2006:
(i) register for a CONNECT eBooks end user account; and
(ii) authorize your SonyŽ Reader.
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YOUR CONNECT eBOOKS CREDIT MUST BE SPENT ON OR BEFORE JANUARY 31, 2007; ANY UNUSED CREDIT AMOUNT REMAINING AS OF JANUARY 31, 2007 AT 11:59:59 P.M. PST WILL EXPIRE AT THAT TIME.