I have obeyed N+1 for the 3rd time in '08 ... although the plan is to perform an N-1 soon.
I've been sometimes using a Trek 820 at work, having stored it in an outside rack on campus for almost 2 years now. And it is suffering for it. I've performed some maintenance on it this summer and it is working well, but it isn't a perfect solution. I think I'll get rid of it, for $25 or maybe for free.
I decided to pick up a folder. I've been watching CL and ads for a while and up popped a good deal on a brand new Sun Cayne Rambler 3. It suffered minor shipping damages and the receiving LBS refused to accept it. I was able to buy it at 1/3rd of list price (not 1/3rd off of list, it was 2/3rds off of list).
Upon opening it, I found that while the shipping box was beat up, the bike was in near perfect condition. There's a small ding on the shifter and some tiny scratches on the frame. The scratches are so inconsequential that they might have been there from the factory.
So today I put it together, which was an interesting exercise for a neophyte wrench. The assembly instructions were poor, with almost no illustrations. I went out and found a picture of the bike on the web and let that be my guide. Took it out for a test ride and everything worked perfectly.
The bike is a decent little folder. 20" wheels, I didn't want one with 16". It has a Shimano Nexus 3-speed hub, which sells as a part for more than what I paid for the entire bike. Nice easy rider. Wouldn't want to do any significant mileage on it, but it's a comfy about town bike. And easy to take somewhere.
It has fenders, a nice rack, folds in the middle of the frame, the handlebar folds down, even the pedals fold up flat against the frame. Only thing I don't like about it is that it has a coaster brake. I might regret that when I slam into a pedestrian.
I plan on keeping it in my office, folded up in the corner. This should be much lower maintenance than keeping a bike outside.