Were the friendly folks who sent this nasty little email really thinking I would foolishly click on their bogus link, ending up at http://ns31046.ovh.net/paypal/ and, ignoring the non-secure non-PAYPAL URL, then execute a form at http://www.i-st.net/cgi-bin/web2mail.cgi which seems to send an email, presumably with what ever PAYPAL name and password I provide, to faktap@excite.com ? Even without coffee and freaked out at the thought of two-headed turtles I'm smart enough to ignore this nonsense. You?

Dear valued PayPal^® member:

It has come to our attention that your PayPal^® account information needs to be
updated as part of our continuing commitment to protect your account and to
reduce the instance of fraud on our website. If you could please take 5-10 minutes
out of your online experience and update your personal records you will not run into
any future problems with the online service.

However, failure to update your records will result in account suspension.
Please update your records on or before June 20, 2004.

Once you have updated your account records, your PayPal^® session will not be
interrupted and will continue as normal.

To update your PayPal^® records click on the following link:
http://www.paypal.com/cgi-bin/webscr?cmd=_login-run

[CAUTION: Nasty bogus misdirection occurs in address above. A mouseover makes it seem like address is 213.186.58.53/paypal, whatever that is supposed to mean, but it is actually ns31046.ovh.net/paypal/ where bad things could happen. Don't go there, unless you want to send these badboys some trash.]

Thank You.
PayPal^® UPDATE TEAM

Accounts Management As outlined in our User Agreement, PayPal^® will
periodically send you information about site changes and enhancements.

Visit our Privacy Policy and User Agreement if you have any questions.
http://www.paypal.com/cgi-bin/webscr?cmd=p/gen/ua/policy_privacy-outside

There's a lesson here somewhere, right? Trust no one?