A guy I work with just bought a Mercier Serpens from bikesdirect. I went over to his house and helped him put it together but it didn't require much assembly actually.

The bike is made of Reynolds 853 tubing (supposedly), it is quite light and came with full Ultegra 10 speed group. I think he paid about $1200 for it which is a bargain if you ask me for what he got.

In fact, a couple months ago I stopped in my LBS and they were assembling a Motobecane LeChampion from bikesdirect and they couldn't believe what the guy paid for it. It looked pretty good IMO.