bonelesschicken, Bogotá is indeed *very* hilly. In certain parts it would be an understatement to call it hilly b/c you'll be going up some big mountains. I don't know much about the bike scene there now, but I am sure you'll find it when you get there. From your previous comments it is hard to tell if you have ever been there, but if you haven't I think you will find that it is not third world like people often think all of South America is.
As for the altitude, you are definitely going to feel it, but with time you will get used to it. I remember how at the beginning of summers I would get winded doing normal activities like going up a few flight of stairs, but by the end of the summer I was good to go and by the time I got back to Miami (talk about a contrast in altitudes) I was in great shape.
dylandom, having grown up in Miami I can't say I agree with you on the Cuban women. And how can you leave out the Venezuelans, I think they have some of the hottest women.