Join Date: Jun 2007
Location: Montreal, Quebec
Bikes: Haro V2 [rip / stolen], PEUGEOT '93 SELECT
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hell if you got the cash to bump the go for it. It looks decent, I wouldn't know though have never ridden a nash bike. You gonna race it or build it for fun/ experience... if so find yourself a cheap steel road frame in local want ads/ craigslist / kijiji or ebay and build on it.
It'll be cheaper and if you bust it up you wont feel as bad cause you spent 1/4 the cost then you would have building something that will most def. cost you a minimum of 400$ and at that price go to your LBS and look for an already complete bike and ask about swaping out parts and how much would it cost... you'd be surprised at how quickly you can land almost 100% of what you want just by specifying what you want.
Again, if you wanna build a beater bike go with want ads and save yourself the shipping/tax and all the bs. It'll help you do the research on your own bike if you don't already know it.
In regards to your Question, looks more like a road frame than a compact.
compare the geometry yourself (follow the link and click more info at the bottom of the page above the pricing boxes):
nashbar x cross frame:
The X cross bike from nashbar is more compact, but not by much max difference is about 1.5"