I have a SE Draft (paid $199) and I would never buy one again. Even though it's a big steel frame. I am going to put a few bucks into it until I can afford a better bike.
My wife just bought a bike by Scattante and it's world's better then my Draft. The ride, the components, etc.
If you're not sure you're going to ride a lot, get the Draft. I just outgrew the bike too quick and you might do the same.
I'm hoping to find better deals on 2009 as 2010 hit the shelves.
At first, I was attracted to the Republic Bikes, I love the look. Then I realized that it seems like a deal to good to be true. A nice bike for $400. I still find them attractive, but will never buy one.