I few years ago, I bought a $600 Trek Hybrid. It didn't take long for me to tire of the crappy components they put on there. Ended up upgrading just about every component except for the wheels. I would definitely go for a higher price point than $700 if you are planning to keep the bike a while and it is more than just a vehicle for commuting. You do have to weigh in whether or not you think the bike will get stolen again--in that case I wouldn't spend a whole lot. Look at other brands too like the oft-mentioned Giant RX models.