what a rip off! That bike has got to be around 15 years old! Replacing worn parts can add up easily to over $1000. Tires and tubes alone can cost $100. Take a look at the Specialized Allez
http://mikesbikes.com/product/11-spe...le-72351-1.htm . $800 is more than $550, but you wont have to replace parts, lifetime warranty on the frame and none of the issues of a beat up bike.