Here's one I picked up a couple of weeks ago for $30. A 1987 vintage Trek 900 - hot pink (it doesn't look like it in the photo, but rest assured it is!). It was a wreck, and needed cleaning, tubes, tires, saddle, chain and cassette. I also had to re-pack the bearings. I had all tha parts in the bin, so it was just a matter of about 2 hours elbow grease to get it shined and ready to ride.
I've ridden it to work a couple of times, and one day during my lunch hour managed to knock off 12 miles on the local bike path. It is a nice, stable, sedate ride - but compared to the road bikes I ride it is like driving a bus. after the 12 miles, I was fairly beat and my quads hurt a little. Keep in mind - I regulary ride centuries. This thing took some effort!!
This one was going to be for the sister in law, but I gave her a chioce between this and a similar blue Univega and she chose the Univega because is was a tad smaller.
Anyway here it is - my pretty pink little princess: