@SB: I'm not really sure, as I haven't owned a bike since I was a kid. I'm looking for something pretty simple (but not a fixie) that I can use for general transportation around the city. Doesn't need to be fancy or look pretty, but I would like one that isn't going to fall apart in a few months.
Word. Keep it used at that price point. Sometimes it makes sense to go new due to warranties and service plans shops offer. You'd have to step up to 4ish to make that happen though. +1 for Red Arrow. NO CABLE LOCKS! !!