I went tonight. It is true that almost every section of the store has quite a bit of things on clearance. There are still toys left. The bad news is that it is pretty picked over. The only thing I got on clearance was a Secret Deoderant 2 pack for $4. 50 ish. That is about $0.50 more than the price I paid for 1 a week ago when I ran out and had to pay retail. I found a couple of good $1 items. So, I guess I didn't really need anything either besides the undies for my little one that I went into to target for. So, my advice is that you shouldn't make a special trip to go just for the clearance at this point. Only go if you were thinking about doing a normal target shop and keep your eyes open for deals.
ps. There were still some baby items on clearance.