I sure wanted a Varsity when I was 13 -- the Continental and Super Sport were out of my price range. I think the nostalgia value is strong with them. I thought lugged bikes were ugly. The electro-forged Schwinns were beautiful and organic and aerodynamic. It was if they were grown or maybe created in a single, brilliant flash.
At a car swap meet on Saturday there were quite a few bicycles. I saw a Continental and a Varsity each for $80. I walked away with a barn-fresh Nishiki Sport for $35. Last year at the same meet I got a Schwinn Voyageur 11.8 for $65.