Originally Posted by Blue Order
Stick around and ask questions here, you'll be pointed in the right direction for finding a GOOD bike for not much money.
+1. Ebay is a tough place to find great buys in that price range, ts. Shipping costs eat you alive. Note, for instance, that the listing to which you linked did not specify shipping costs.
It takes more patience, but you'll generally fare better by hanging out here to acquire some knowledge of what's good and bad, then prowling your local thrift stores, estate sales, craigslist, want ads, college bulletin boards, etc. This forum could use a good sticky on recognizing quality features like forged dropouts, better vintage components, etc., but the sticky on "classic and vintage links" will lead you to some good resources.