Built a Nashbar Fram'e Road Frame in 2007 when it was at $79. Pretty good stuff.
Its beautiful paintjob (Powder coated, then clear-coat) is TOP NOTCH for its price.
The decal on the headbadge location can be easily removed.

My 56cm frame comes in at ~3.3lb. The following are the major components

Nashbar Road Frame
Tange CrMo Road Fork
Neuvation M28 Aero 2 Wheelset
Shimano Sora 7 Speed STI Brake/Shift Levers
Shimano Tiagra Triple Front Derailleur
Shimano Ultegra RD-6500-GS 9 Speed Rear Derailleur
Truvativ GXP Rouleur GXP crankset 172.5 53/39t
Truvativ 68x118mm Bottom Bracket
Nashbar 7 Speed Cassette 12-28t, with 8 to 7 spacer
Origin 8 Leather Saddle
Nashbar 27.2 x 300mm Seatpost
Nashbar Lite 7079 Road Drop Handlebar 26.0mm 42cm

At the end of the day the whole bike cost me ~$650, and weights in at 20.7 pounds.