I am usually not too quick to get excited about scams, but this one is slick - and scary. The URL looks legitimate - but is completely bogus. I sent a report to PayPal, but we'll see how quickly word gets out - and whether or not there are many other people receiving the email I received.
Here is the raw source: raw_text.rtf
On screen - in a mail client that can read HTML email, it will look something like this:

All I can say is, watch out...