Since the tacky "LIQUIDATION!" signs are all over the place (at least they were a week ago), and they're selling features and decorations, I'd think they'll close sometime just after Christmas. I personally never minded paying a little more for the FAO experience than going to the Toys R' Toxic in Times Square or Mall-Wart. Everyone in FAO was a serious toy buyer. It's sad.
I finished my shopping! This is going to be a great Christmas at the Munchkin Household!