When I was looking at bikes a month and a half ago I set a $800 budget. In one day it went to $1,000, because I decided I didn't like lower than Shimano 105 componentry. Then in half a week I rode the Trek 2.1, 2.3, Cannondale ?, and I fell in love with carbon forks... $1,300. Ohhh, Bianchi Via Nirone looks perfect! $1,350. Then I got introduced to a 2010 Felt F5 for $1,500. All carbon

Then it was the wrong size, but they had a Felt F1C.
My budget went from $800 to $1,500 in about a week and a half
But now that I spent that much, I can go on being comfortable that this bike will be able to compete at a low level competitive race just in case and be really nice just as a road bike on long rides. I don't NEED to get the next level frame, because this one is definitely sufficient.
If you can, try to get the best one possible so you don't get the itch to buy another one soon thereafter!
Now I'm looking at a goal to save up for a Cervelo... (Probably a year and a half later or so to have a nice bike and a back up one~).