Have you specified -r so that it will download recursively?
Works for me if i want a copy of a website along with the files.

EDIT: It has started. Will see about the results. If i get some packages, i'd say it works.
But so far, no .deb files.
Might have something to do about recursion depth.
Ok... not recursion depth.

I cant figure this out, either. (Attempting from Ubuntu Maverick with wget 1.12)