I just picked up a complete Centurion Pro Tour 15 for $130 this evening. A couple weeks ago I got a beautiful Peugeot PNG 10 sans wheelset and handlebars for $80.

As others have said, it is all about vigilance. Look everyday for a few minutes over a cup of coffee. Be ready to act at moments notice. In general, Italian bikes are rarer to find deals on than Japanese or even Treks.

Probably the best way to get a good value is to know the distinguishing features of a good frame and components, rather than a brand itself. There's been a full 531 frame/fork clad with Campy 7-spd with nice paint sitting my my local CL for $250 for over a month. If it was a more popular brand name, it'd be gone for $100-200 more than that.