I think $1600 is a very fair price. I bought a used 2004 Teramo frame (XL) over the winter and got myself on the road in late march. I definitely notice a difference between the Teramo and the Trek 1500 I was riding before. The new bike is more responsive and just generally quicker. I estimate that I have picked up about 1mph since switching bikes. True, you won't have the warranty, but I don't worry about that with the frame. Unless I crash hard, I don't think I'm going to damage it. BTW, my bike ended up costing me about $1300 - 105 sti shifters and derallieurs, Ultegra cranks, DA bottom bracket and hubs, open pro rims (32 spoke). Fizik saddle, stock Litespeed seatpost & fork, cheap performance stem & handlebars, old Look pedals, old Diacomp brakes (cost $1.00 - I'm on a budget). Comes in around 20 pounds. Yours should be a pound or so lighter. Also, I am just about exactly your size. Good luck.