Join Date: Mar 2005
Location: Washington, DC
Bikes: Redline Conquest, Cannonday, Specialized, RANS
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As fate would have it, I've been shopping their site also. They are affiliated with a retail store called Bicycle Bananas, see http://www.bicyclebananas.com/
I know nothing about this store, but I've had good experience buying bikes online. If your LBS doesn't carry the bike you want, it makes a lot more sense for you to order it from someone who has it in hand than for the LBS to order it for you from the manufacturer. It's quicker and cheaper, and the bike comes to your house instead of the LBS. This is especially true if you are competent to assemble the bike yourself.
Some manufacturers relax their no-online rules for bikes that are not current-year. I've recently seen websites that say that 2005 bikes are for in-store sales only, but 2004 and 2003 bikes can be shipped.
Frankly, I don't feel that the ban on online sales benefits the consumer in any way.