im just tempting you with what you could have. and think about it, if you bought the IRO, you wouldn't have to spend another penny on a new bike. The IRO will last forever; unlike the used bike which will need upgrades, maintenance, and will sometimes fail on you.
I bought a decent used conversion with a suicide hub for $125 beginning this school year. Its a beautiful lugged SR frame with crap components. The chainring is outta shape and makes highs and lows in the tension of the chain. Pissing me off. Gonna have to drop another $50 for a new chainring and chain. Anyways, its been really good to me. I ride it everywhere. But I've been thinking, what if i just saved a little more and got an IRO. I mean for me to upgrade my conversion with real track wheels, better pedals, real bullhorns, new cog, lockring and chainring, headset and LBS costs, in the end the money comes out to what the IRO would have cost. So why am i spending all this money to upgrade my crappy bike that has an already heavy frame, when i coulda just bought a new one with a new school strong and light frame and saved all taht time.
In the end, the money will balance out. Except with a conversion, you would have spent more time and gotten a lower quality product.
BUT HEY! we ride fixies, we know its not about efficiency (otherwise we'd be roadies), its about the RIDE and JOURNEY. So think of getting this bike as a journey, you're gonna come out short on cash and time compared to those ppl taht bought their way in, but you'll also come out with lots of knowledge.
its good to get a bike and work on it, makes it special and your own. Even if there are defects, just think of them as quirks your bike has that the expensive ones dont.