Don't buy it, but don't worry about it going away today. I think for that kind of money, you're going to have lots of time to decide.
My Novara Randonee is steel. If you check it out at REI, you can save a lot by waiting for their March sale. I like it well enough, but for less money, my Giant Cypress SX came with much better components.
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Some people are like a Slinky ... not really good for anything, but you still can't help but smile when you shove them down the stairs.