I'd slap down the cash if you're inclined to a great old steel ride. The Trek frames from that period are very very nice. I just hauled out an 84 560 for a ride up to Ashland this past weekend; wonderful ride. Just brilliant. Admittedly a lesser bike than the 700 series (but then I got it for 35$ at a thrift store-- a complete and utter steal).

To heck with the panache. The ride is what matters.