As Vic said the most you'll pay is GST/PST. With the exchange rate the way it is you're still way ahead. Besides being illegal, it's just not worth the risk for a few buck to not declare or lie about it.
I have PO boxes at both Pt. Roberts and Blaine and get stuff shipped there all the time. I brought a BBQ over just this summer. I can tell you from experience that they will let much more slide coming across a busier border like Peace Arch than at Pt. Roberts where all they get are Canadians picking stuff and coming back right away. Each border point has their own policy about "overages" and the amounts they'll allow before sending you in to pay taxes.
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