I've played around with Montagues, and I don't really like them. (Also, are you sure that the CX comes in a 16" size - the smallest I've seen is 18").

1. The fold on the Montague is not really a fold, since you have to take the front wheel off - and even if you do that it's pretty big 3'x30"x12", approximately. For everyday train commuting you would be just as well off with a full size bike, IMO. Also, there's not a good way of taking a bike's wheel off without getting a little dirty, although gloves help.

2. If you are talking about putting the bike in the luggage compartment of a greyhound while travelling on the bus as a passenger it's sort of complicated. To do this with no extra charge, your bike has to weigh less than 50lbs and fit in a suitcase with total dimensions of 62" - basically, the same restrictions as apply to carrying a bike on a plane. For an additional charge of $20-$30 you can carry a larger package as luggage - but once you've passed the 62" mark, I'm not sure that there is an advantage to a folding bike. I.e., I think you can take a full size unfolded bike for the same cost, as long as it's packed appropriately. (You may want to check with greyhound on this, but it used to be the rule). Note, too, that regular bikes can get pretty compact if you take off both wheels and rotate the handlebars 90 degrees.

3. If you are interested in a full-size folder, I would check out some of the Dahon 26" folders, such as the Cadenza 16, the Expresso, or the Jack. The same caveats apply wrt size as to the Montague - i.e., the fold on these is pretty large, too - but at least you don't have to remove the tire to do the fold.

4. The best bike within, technically, your price range and optimized for touring may be the $999 Speed TR with a 24 speed dual drive hub, a hub generator in front, and all of the lights, fenders, and racks you would need. I think this includes the delivery charge as well. I think that this is a great deal, since racks, fenders, and lights (not to mention generator hubs and dual drive hubs) do add a lot of expense to the bike.

However, in an absolute sense that is a lot of money, and depending on where you are touring you may be happy with fewer gears, no generator hub, and adding on fenders, etc. later.

5. And I don't mean to be too harsh on Montagues - but I do think that you should try to see one in person before ordering one on the internet. (Of course you should see as many folders as possible before buying one - the difficulty in doing so is one of the great challenges of buying folders.)