TLopez,
I my opinion, if your local bicyle dealership is offering you a "new" 2011 Marin Fairfax, for $500, then you should jump on that deal, as fast as possible! Of course, that's only if you get all of the amenities that a person would get, as a brand new bicycle owner. Therefore, the original warranty should remain in place, just as though the bicycle were purchased brand new.
Make certain that the Fairfax, still has an Alivio rear derailleur and an Acera front derailleur, or better.
The Mill Valley would have cost you about $760 back in 2004. That was practically eight years ago! A 2005 Mill Valley today, should cost at the most, maybe $200-$300, and that's without a warranty. Therefore, I'd pass on the Mill Valley.
The Cannondale Quick 4 that sells for $629 at REI, is a more than fair deal. You'll automatically qualify for excellent warranties, both from REI and the bicycle manufacturer, as well. If something suddenly goes wrong with your bike fives years from now, you can still expect to return your Quick for either a replacement, or a full refund from REI.
- Slim
PS.
If you become an official REI member, you don't even need a receipt for returned items!