Speaking only for myself (of course), I'm glad I bought my first bike through a good LBS. I learned a great deal through the relationship I developed with the folks there -- and, I daresay, the fact that they sold me a bike made them all the more eager to follow up with good customer service. Of course, you have your co-ops and other places that sell used & reconditioned, but I don't think you're likely to save much money if you go that route.