Here's the deal for those "so" concerned with the extra cost of a freewheel and brake - a freewheel costs $16. Woo-hoo right? You slap it on the other side.
A front brake - nashbar has a brake for something like 15 bucks. A lever for 10 or whatever. Check around. Or rummage an old parts bin and slap on an old road brake and lever, it's all good.
An extra $30-50 bucks to spend - it's really not that much.
I'd take the Pista over a Langster anyday. An IRO even more - those hubs are nice.