Hello all! New to the forums and after looking around a bit this seems like a very knowledgeable group who can help me out and provide good discussion.

I am moving to Austin this weekend and have been looking at getting a road bike as my source of transportation (no car!). I've been trying to learn what I can this week about road bikes and bikes in general, but there is way more information out that than I though possible. My only prior experience with bikes was when I was ten I raced BMX and when I was at college I had a cheapo target bike to get around campus on.

I found a bike on craigslist that looks like a good deal and I just went and met the guy/road the bike around some. Everything seemed good to me then again my criteria for 'good' is 'two wheels'. Here is what he told me/posted about the bike:

Series PDG Frame, size 56, frame 110-115 oversized, new 23c tires and tubes, XTR rear derailer, handle bar mount Shimano 105 STI 660 shift levers, 16 speed, clipless SPD road pedals, bike rack as shown in picture like new condition. Purchased in 1994, have not road for 8 years, just put on new tires and tubes this week. Red, White and Blue color.

He said he just got it checked out by a local shop earlier this week. He is wanting $400 for the bike. He says it's a 1994 Schwinn Paramount as far as he knows, based on my limited research, I think it might be a 1992 due to the serial number which is: 2A02840



Is this a good deal? Could I find better with $400?

Also as someone who has never embarked on the road biking adventure, what are some good beginner tips?

Thank you so much!