ok- so the bike is $525+ tax. check out Craigslist. seriously, i bought an '05 Stumpjumper with Fox Fork, Disc brakes, and XT for $600. i was able to fully inspect the bike and ride it around. it is the best $600 i have ever spent. if you aren't willing to buy used, i say wait until you have a little more money. also, check out rei outlet- they have a Marin eldridge grade (columbus steel) for $750 right now.
Good Luck!