The IRO is quite nice. Its a little over your budget at about $550, but that is with certain options. If you can score a seat, handlebars, crank and a break, you can get the IRO down to about $500. You will also be dealing with Tony, rather than Specilized. Tony is a great guy who works hard to get you what you want. Also the IRO Mark V is steel and although I ride the Aluminum IRO Jamie Roy and love it, there are many who prefer steel.

Milo