I'm in the market for a new bike and have been doing a fair amount of research and having discussions at the local bike shops. I'm looking at bikes around the $1200 range, give or take a hundred or two.

I haven't bought a bike in many years (current ride is a Trek 720), so I need some advice on purchase etiquette. When dealing with the local bike shop, should one expect to pay the full advertised price or MSRP? Is this like car shopping, where you expect to haggle and negotiate on an agreed price? I'm sure each LBS is different, but in general, what are the expectations and what is the norm? I don't want to pinch my LBS, but at the same time I don't want to get pinched either.

A little help please -- conventional etiquette says a shopper should expect to pay what percent of the LBS's listed price?

Thanks in advance.