The aluminum fork and Sora/Alivio drivetrain are a definite downgrade, all for $200 more than last year's all-steel Deore model.
I built a 2004 520 from the frameset up. Nothing too fancy: new Sun CR18 rims with LX hubs and a 9-speed parts-bin drivetrain. I put on bar-end shifters and a new Brooks saddle, too. The total cost was about $500.
Other than maybe the disc brakes, how is this bike any better--and not substantially worse--than my 15-year-old beaut?