That Giant Sedona might just be the ticket. For the price plus the cost of a decent chain (~$10-$15) and a new cable (I paid ~$12 for the rear cable + installation recently) you'd be rolling. I'd figure in a total cost of $125 just to cover everything that might come up, but from the pictures it looks like it's in decent shape. You could probably recoup half the costs by selling your BCA bike.
You also may check out bike shops. Many here still have '07s that they are drastically closing out, I saw some *really* good deals the past couple days at the LBSes. 2009 models will be coming soon, so you can bet that '08s will be on sale as well. Anyway, summary is, you may be able to find something there. Some also may have used bikes, I still kick myself for not picking up a used Cannondale roadie for my wife that my favorite LBS had for $350, but offered to sell to me for $200. A former member of my Saturday AM group picked up a really nice Raleigh roadie from a LBS for $75, and it was in excellent shape.
Deals can be had, I'd suggest staying away from eBay though. Stick to CL and shops in your area, where you are able to check the bikes out in person.