54 is one of the most common sizes for a road bike (corrsepondingly, 5'5"-5'10" is probably the most common size for people). Get in the habit of scouting craigslist (in the bike, sporting good, and general) sections whenever you can (as close to hourly as possible... I'm serious). Look for brifters, most anything with integrated shifters will be worth over or damn near $300, you don't have much to lose here. Have cash in hand, and fire off the email as quick as possible. If it pedals and shifts, buy it and sort out your purchase later.

$300 is a low (definitely not "entry level", but not impossible budget if you're patient enough.

Edit: Boom: http://losangeles.craigslist.org/lac...607961800.html



Goofball tri paramount- http://losangeles.craigslist.org/sgv...643603784.html



E2: buy the paramount. NOW. Put the drop bars on, swap the shifters to the downtube. $300 for a bike that might just need bartape is not bad. 650c is weird, but it's a paramount dammit.

Motobecane with sora brifters for $330- http://losangeles.craigslist.org/lac...630316055.html