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I find Merlin really cheeky in how they sell OEM Shimano parts without saying it.
Ok who cares about retail packaging, but they don't include the little parts specified for installation that Shimano either provides in the retail box, or doesn't as they know a dealer has a box of 100 to hand.
E.g. mechanical rear derailleurs, Merlin don't advertise as component-only, but in my experience they won't be including any cable tongues or the cable outer (OT-RS900) specifically for the tight bend to the derailleur.
Okay it will still work without these little bits, but the consumer hasn't made an informed choice to not have them or has to find somewhere selling them separately.
/Rant
gp700
theflatboy
Indeed. When it comes to some items such as bottom brackets Shimano can be quite overzealous when it comes to how much grease they apply at the factory.
I've often found Merlin also sell OEM parts which goes a long way to explaining why they're often good value.