I have had good luck with CL. Just recently a woman posted that her BF died and she was selling her and his bike stuff off cheap. The ad had been up for a few days by the point but it was literally 1/2 block from my house so I called her. Went over there and snagged a 85 Trek 520 with a full modern 105 triple groupset including STI shifters, fenders that matched it, front and rear racks, wheelset with campy rims and 105 hubs, a Trek 1200 with all original components, a decent enough Alex wheelset for it, a Specialized Rockhopper framset that I used to build up a drop bar mountain bike with, another 700c wheelset Matrix rims with 105 hubs, another frame which was a modern Specialized Sequoia aluminum/carbon complete with the 9 speed 105 drivetrain and brifters, and a bunch of misc parts for under 80 dollars total. I couldn't believe how much nice stuff there was. She had a lot of decent double wall 26" wheels but I really wasn't that interested. Another member here Anixi bought some more stuff from her a couple weeks later.

I jsut seem to fall into these kind of deals, its how I have gotten some nice bikes that I could no way afford otherwise.

I sold a nice Schwinn Traveler with flaking paint for 125 last week, no problems there.