In July '06, I bought a new Specialized Sequoia Elite on sale for $979. A really great bike for me, being 51, arthritic, heavy, but in good shape. Two weeks ago, I bought a 1995 Scott AFD303 road bike from a club mate for $175.
I now kick myself for buying the Sequoia, even tho it's a great bike, in fact a fabulous bike. I just can't believe I actually spent that kind of money when the Scott is so much fun for a fraction of the price. It's only a 7-speed but is faster, better on hills, has 170mm cranks that seem to be just right, and the lesser grade Shimano RSX works as well or better than the 105 group on the Sequoia!
Moral of the story:
Better to spend $175 and possibly make a cheap mistake than spend a grand, and wonder why.
Check your Craigslist FIRST
