Welcome To Bike Forums, ThirrdPlanet!

If in mint condition, that should be a great performer. Almost an entire decade ago, a 2004 Eros would have cost you over $1000. It would most certainly be of greater value today, than some aluminum framed road bike of that same era. If it fits, buy it, as long as you don't have to lock it up overnight outside.

If campus bicycle theft is that bad and you must lock up outside overnight, then I would hate to see the Eros go the wrong way!

Alternatively, I would suggest that you just go with a cheap single speed from nashbar.com:

The Nashbar Argyle ~ $200
www.nashbar.com/bikes/Product_10053_10052_537009_-1_202614/

Of course, if you really want to go super cheap with no guarantees whatsover, you could just Google the Mongoose Sinsure...

PS.

In any case, find an old ragged-looking leather (comfortable) saddle, wrap painted duct tape around your tubes, get an OnGuard or New York Fahgettaboudit U Lock, and just hope for the best!