Actually, it's not a bad price. Components are definitely cheap, but then again so is the bike. It has a cheap-looking crank, a tourney RD, and stem shifters...if you need something now that will last you a couple of years, and you don't mind replacing a part or two in that time, then this wouldn't be the world's worst purchase. This is how much some people ask for garbage Schwinn Suburbans in many parts of the Craigslist world, so take that into consideration.

Sure, the aluminum frame is cheap, but I've never known a cheap aluminum frame to crack for no reason. I have known expensive carbon fiber frames to crack for really dubious reasons, however, as a measure of comparison.

If your commute will be relatively smooth roads, you want something new, you want something now (probably the factor that will influence you the most to buy a bike of this quality), and you want to commute on a racing style setup, then go for it. My first commuter was a cheap old Schwinn that I overpaid for, but I learned so much off of it I consider it a win in the end - especially with the $$ I saved in gas money making a 15 mile commute for many months.

If you have patience and wait it out, good deals can be had for around the same amount of money, but don't let anyone talk you into making a purchase twice your budget (unless you are inclined that way already) to get something that has better brand names on it...a starter bike is, well, a starter bike. Good luck on your purchase.