I bought a mid 90's Nishiki road bike last September for $100. I put about another $100 into it and rode the heck out of it October, November, April and May. I wanted to start riding with some faster groups so bit the bullet and dropped coin on a 2012 Defy in June. But, that very basic 7 speed, downtube shifter, 4130 frame Nishiki was absolutely adequate for some really hard and reasonably fast riding. The big advantage from my perspective to a new(er) road bike is the shifters. I've got a 2012, Shimano 105 component group on the Defy and the single biggest thing that jumped out at me right way was the STI shifters. Love them. But if you're just getting started on the road and don't want to spend a bunch of money on something new right away, an older road bike in good shape is a great option. Just make sure it fits.