I've often been tempted to buy the el cheapo bike, ride it through the winter and throw it away in the spring.
Before I stripped my commuter down to the minimum essentials necessary to ride, it was costing more than $80 to keep it maintained and operating properly through the winter.
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2003 Iceman Challenge - 2:34:55 - 897 / 2,000*
2002 Iceman Challenge - 2:39:23 - 1093 / 2,186
2000 Iceman Challenge - 2:49:18 - 1516 / 2,153
*estimated