Hmm. If I had gone the single bike route, the cost would have been more like the following:
$050 - Commuter Beater Bike:Mid-90's Mongoose Cambridge purchased locally from thrift store
$250 - Commuter Components:
$100 - Repairs:
$150 - Safety Equipment:
$125 - Clothing:
$200 - Tools and Maintenance:
TOTAL: about $875 all in.
Not bad for a ready-to-kick-*** bike, gear, wardrobe, and repair station. I think I'm more satisfied with a 2 bike setup, but this would have been a perfectly serviceable approach.