Alright, let's kick this up a notch. [edit: Notch kicked. Bike taken.]
This was the first bike of my adult life, and got me into cycling. It's not the highest-end bike, but it's a step above what you'd find at a department store. It became a commuter/hybrid for a while, and I'll throw in the Michelin TransWorld road tires I was using. Also included are a seat bag, a few tubes, a small pump, and a multitool, if I can find it.
The good: It's in pretty good shape. Hasn't been abused. Only 1500 miles on it, if the computer is accurate (which I believe it to be, more or less). Brand new tires and Koolstop brake pads (less than 50 miles on each) and new grips (installed but never used).I built up my Surly, and haven't ridden this one more than a handful of times since. I converted it back into a mountain bike, but I just haven't gotten around to trying it out, so I think it's time to move on. It's a 2004 K2 Zed 1.0, 19" in size, appropriate for a rider from 5'9" to 6'1" or so, as I recall.
The eh: The chain is newer than the bike, though it has some cosmetic surface rust from riding it in the snow a few months back. A few scuffs here and there, nothing too bad. Worst is some rash on the side of the saddle. Seems to shift well, and brakes very well, but the cables are original to the bike. Componentry isn't anything fancy (it's all sub-Deore), but it works. Plastic pedals. I can't speak for its off-road performance, as I've never really used it that way.
The bad: Nothing that I can think of, really.
I'd be very happy if it went on to help get someone else into cycling, or let them dip their toe into mountain biking or commuting (with more appropriate tires for such an endeavour, of course. ).