I too was ripped off by AudioMagus. Ordered a KingRex T20U + PSU for $450. They said it got pulled for review by Customs, and so did the webpage for the item, so I said I would wait. A couple weeks later I decided to go with a Virtue Audio TWO (fantastic amp BTW) and told them I wanted to cancel. No response. I called diligently at least 10 times in the next 2 weeks and sent a couple emails to Brian Johnson, who I had been exchanging correspondence with.
Then I decided to see if I could get a response from them by inquiring about shipping time for the T20 under a different name and email address and sure enough I got a response the next day saying the item would ship in a couple days. Well, that got me fumed so I sent an email to Brian basically telling him he had till the end of the week to respond or I would pursue legal action.
That's when he fessed up and told me that they were the victim of a bad economy and credit squeeze and are trying to save the company, nobody's collecting paychecks, refunds would be processed as funds became available, etc. Having had a very positive experience with them in the past and trying to make the best of a bad situation, I told him he could ship the amp if in stock. That was 13 days ago and the last I heard from them.
Now I have filed a Paypal dispute (added the PSU via PP after the initial amp order) and well... not sure what comes next, but I am not very hopeful about getting my money back at this point. I checked my order status on the site and it now says shipped, but who knows if it really did.
Does anybody know if banks usually offer any kind of buyer protection with checkcard purchases (Visa/Mastercard ATM card)? Has anybody ever been ripped off online and been able to recover their money? I got scammed like 10 years ago and at the time I was told by the local courthouse that all I could do was fly to the state that the other party resided in and file a small claims suit. (Right...) Anyway, I hope some consumer protection laws have been passed since then, but I haven't been able to find anything like that via Google search. Even if you do sue and win, how do you get money from a company that has none and will probably file for bankruptcy if they haven't already? I think we're pretty much screwed... but I hope I'm wrong.

I was a little sympathetic toward them because they used to be a great company offering great products at affordable prices to our little niche market, but seeing now how they've been dishonest and completely unresponsive during these hard times... well, that was their biggest mistake. They could have had a chance to save the company with an injection of capital but now the word about their unsavory business practices has spread through the community so they are toast.