the KHS flite100 is a pretty decent bike for the money. it's got a reynolds 531 frame, and sugino75 track cranks, which is pretty nice to have around. however wheels are kinda shoddy. they'll last for a while, the only problem i've ever heard of anyone having with them is the threading for the lockring and cog is kinda cheesy, just ask "stinkyonions," of forum fame.
the frame is great though it's got nice, tight track geometry, and it looks pretty swell. and the rest of the components on it are pretty decent.