WOW, thanks for the great advice!
It's comforting to have some seasoned pro's tell me that I didn't screw up from the get-go!
Lot's of people like me want to get into biking but are intimidated by things like buying a $250 bike and then having everyone tell you that you WASTED your money. I know the bike I have now is just a stepping stone but sometimes people need reassurance that they don't need to sell their house to afford a hobby they want to pursue!!