hit the used parts bins and co-ops and you will easily build it for less than $500. Its takes a while, like a month + of hunting about 3-5 days of the week. also as has been posted in the DIY thread, you can make the parts look pretty again. sticker can be your friend too...

Friends give me money and send me on my way to get the parts for them to build up bikes pretty often. I tell them to just be patient is all, LOL... I have lots of fun with the hunt, and I find it very fulfilling to gather all the parts and build it myself... that isnt for everyone for sure so you need to ask yourself if thats what you want...