Once again all you guys have been really helpful. I’m sure the final decision won’t come until I’m at the bike shop cash in hand, but now at least I’ve got some more to think about before I make any big purchases.
There’s a big difference between cheapo Wal-Mart bikes (you don’t ever want these), and inexpensive used bicycles (you may very well want one of these). Frames don’t really wear out, and parts are still pretty standard and pretty basic. And for road bikes, the only real change in the last 30 years is indexed shifting and alloy wheels, both of which you can add in to any old frame you want. In other words, don’t think of a used road bike like a used car; a 30 year old bike with a good overhaul will perform just as well as a new one and last just as long.
Also remember, the less flashy and modern the bike, the less it’s a target for theives, too.
For a used bike, you’ll want a good bike shop to check it out and tune it up once a year, but you’ll need one anyway with a new bike. You’ll also need someone semi-knowledgeable to make sure you’re not buying a used Wal-Mart bike (worst of both worlds); in the best case, the bike shop will sell you a used bike, or somehow steer you to a good one.
For many years my only personal transportation was a (now) 30 year old Fuji 10-speed road bike (with new alloy wheels, and gradually replaced everything else, though I don’t have a problem with friction shifting).
I do own a car now, but the Fuji is still working and got me to work this morning.