So, Swobo (a totally cool company I respect) unveiled their new bike line today. The two city bikes look pretty cool and respectable-like for what they are, but I'm not sure where they were going with the Sanchez. The CroMo frame leaves a lot to be desired, IMO, even with the cool galvanized finish. They mention they want their bikes to be customized by the users, but then why not follow the Surly model, focusing on quality steel frames, the result being each one built totally different.
Also, the site talks a lot about how they're going after the "real world" cyclist who doesn't wear lycra. Tim Parr (Swobo guy) has mentioned that the majority of sales will be online. I'm thinking if you attract new people that are just getting into bikes, this is exactly the wrong way to do it. The customers need to touch them and see them. I'm all for "alternative distribution" but I wouldn't focus on the internet.
In short: $600. Typical component spec for this price range, maybe even less so. They could at least throw in a freewheel and a front brake.
http://www.swobo.com/collection.aspx