yeah, i got a khs, which is almost the same thing for almost the same price. mine had the sugino 75 cranks on it though, so no upgrade there.

definetely get new wheels/tires (IRO's and gatorskins for me). and saddles are usually a personal preference. once you're done, it'll probably end up costing closer to $800.

brake/lever $50
wheels (IRO) $200
tires $60
bullhorns $20 (though ironically i've switched back to drops)
seat $80
clipless pedals $60
cogs $25 each.