I have a Bianchi Brava that is very similar to this bike - IMHO it's the exact same frame with a different model name decal. I paid $225 for it last summer, with a bent Ambrosio rim and bad tires. These frames are not from the upper end Italian made frames - those have 'reparto corsa' written on them and are better made. On these the brake bridge is a simple tube with a fitting (not a casting), the tops of seat stays and the fork crown have a "B" decal rather than being embossed or engraved. The chain stay bridge is also a simple tube. But, otherwise it is a nice basic frame - pretty light and rides nicely. I think the Columbus tubing is a special product made for Bianchi, and is probably similar to double butted chrome-moly. With a Campy group on it it's bound to be worth more, but I like the Shimano 105 on mine.

Ricohman - as for finding one cheaper - I think you've been pretty lucky! And that $50 Marinoni, if I remember correctly, came about from an ad you placed, not a for sale ad. Still a great buy. In Ottawa anything with 2 rusty wheels and a chain is $100. I agree that $100 would be a bargain for that bike, and $200 a good buy - at $280 he's doing OK. Still cost recoverable if parted out, especially the frame which I've seen sell for about $200 on eBay (it's that colour... a black one would be $100 or less).