ooohh. ic ic..
so its their standard shipping procedure., they just move to china in 2009..
you know reliable postage from china ?
i was open china-EMS they only sent item to several country and malaysia is not on their list..
i think USPS is good enough, with express service lets say 7-14 working days the item will arrive to your door.

and i think you will not get any tax from kastam, because i several time bought vintage camera the price is more than RM1k, and they never charge me anything..
same as with my friend by iphone & android phone they not taxes us..

$160 is a lot of money, so definitely forget about options with no tracking number (those items have a higher chance of getting lost).
If you're not in a rush, ask the seller which is the cheapest trackable to doorstep option (usually will be USPS, though sometimes Fedex/UPS/etc can give good rates also). This means your parcel can be tracked all the way from when it leaves the sellers hands until it arrives in your place.

Another option is trackable until leave US, but then the parcel will be treated as normal mail when it reaches Malaysia, so that's more dangerous than trackable to doorstep.

Marking down the price is illegal actually, as it means that the seller is undervaluing the item's actual cost (e.g. you buy for $160, he write that item only worth $50), but if the seller is willing to do it, then ok kwa, coz the postal ppl cannot say anything one. But, if you're insuring your parcel and something happens, obviously the max you will get back from the insurance is the marked amount(e.g. $50)