Pros: High quality at a cheap price. Great starter bike!
Cons: A little heavy. Not for "comfort" riders.
A great starter bike for someone with Lance fever. This is a racing style road bike. It's very cheap (usually about $300 or so used) yet really well built!
Made by Trek.
Reynolds 520 steel tubing. Not the lightest, but very strong and very durable and quite good. If you buy the 2001 or 2002 I think you get Reynolds 831 tubing, which you should get, if you have the choice. The steel frame absorbs the road nicely and handles well. Very stable ride. Good especially for longer rides and for heavier riders (heavy in bike-land is 180 lbs. or more).
Could be a nice touring bike, or a very solid commuter (though the Lemond Wayzata is a nicer commuter!).
Not the fastest or lightest bike you'll ride. My 59cm was 24.8 pounds, which is 2 lbs. more than what a similarly equipped aluminum ride would weigh. A carbon fiber fork (about $75) could save you a pound. A little tough if you live in the mountains. If you live in the flats, you'll love this baby.
Lemond bikes come with a long top tube, thus drawing out your body and putting you into a more race like position. He puts your rear-end a bit back for extra power and extends your arms. You ride a lot faster this way. I LOVE this. Not for your joe schmoe comfort rider though. I.e., not for people who prefer to casually ride upright due to slow speeds or bad backs or whatever. This is a wannabe racer bike for weekend warriors like me.
The Shimano SORA components work beautifully. Lovely shifting, decent braking. The wheels are fine too. They use OCR (off-center-rim) technology to reduce dish. Slightly high tech, though not the lightest or fastest wheels. You do, however, see these on the next level up in Lemonds and Treks.
If you plan to really race, get a faster bike. If you like long rides or fundraising rides or touring or commuting this is a great bike. Really well built in every way. They thought of everything. I felt so well taken care of riding this bike.
It was a pleasure to watch Greg Lemond race and it's a pleasure to ride this bike.