Well, she arrived, as did the first upgrade bits, namely a hairy Origin8 Pro Uno zebra saddle, a pair of Tektro R200 (or something like that) levers in white, and new bar tape.
I think a pretty thorough run-down on this bike has been made in this thread already, but I'll add that even with the stock seat post a couple of millimeters above the minimum insertion mark, it's still too short for me, a 6 footer w/35" inseam.
I'll also repeat that this bike is spec out with all kinds of crappy components, a level of crappiness that I've never seen before. From the moment I opened the box and smelled all that cheap Chinese machine oil-- you know, that smell that everything in Harbor Freight has?-- I was prepared for the worst, and the bike nearly met that exceedingly low expectation. I've never seen junk like this on a bike. It's almost embarrassing. For the money though...I get that concessions must be made!
I've got an Origin8 400mm seat post, blue Brev.M cranks and white Brev.M pedals on order, and will probably add some Kojak tires, or Greenspeed Scorchers if I start feeling all practical. Also a better set of brake calipers would be nice; these flex quite a lot.
I've only ridden it up and down the street tonight for a few minutes, but aside from the aforementioned seat post issue, I would also like a longer reach stem. I did drop it from the height you see in the pictures, and that seems a little better, but probably longer would be better.
I was hoping this would become my preferred, short-run-in-town bike; we'll see. Anyway, I hope to take it for a proper spin tomorrow.