Wow...fascinating responses.
I don't really know what the margins are on bikes, but apparently, Zeimas does. What I do know is that an internet dealer on one of the coasts was willing to ship me the same $865 Jamis (msrp) to my door for $665. Of course, I would have had to pay build-up fees, so I thought it the more prudent decision to pay a bit more locally in order to get a fitting and service. Yes, that's why I shy away from sites like BikesDirect.com as well.
When I thought I had the group buy discount, it was a no brainer. The shop was graciously willing to give 15% off for 4 buyers, and 10% off for 2-3, which I thought was cool. When the other members of my group crapped out, I did feel like an ass. At least they are willing to give 10% off accessories and install the bike rack...