You can get plenty of bike for $1500, and even the $700 that you originally budgeted. My first road bike was an Allez Sport somewhere around $800 IIRC. It was a good bike that got the job done until I started riding enough to wear the cheap wheels out. That's where they really skimp. I went looking for new wheels and ended up getting sold on a whole new bike, a Carbon Giant TCR that was still only $2000. Bikes don't have to be expensive, and there is no sense in spending too much money when you aren't familiar enough to really know what you want and/or need.