Zan,
Thank you for your response.
If I can spend far less than $1,500, so be it.
As for suspension, I am looking for a comfortable ride. Front shocks would probably be sufficient, but I wouldn't necessarily balk at a rear suspension. I don't need anything extreme. At my age, I won't be doing any aggressive biking now or in the future -- strictly recreational biking.
What I am looking for is: ChromeMoly frame, fenders, lugs for water bottle cages, rear carrier, provision for panniers, elevated seat and handle bars for upright riding, grip shifters, Shimano components, among other features.