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@clefty
To be honest Steve for that money I would pick up a Fuji or another cheap off the peg, I'm sure you've already read the OTP thread?
FGL prob wouldnt get you anything decent for the money you have, see this similar post
http://www.londonfgss.com/thread14575.html
For that money, start with an off the peg - if you're that set on colour you can always get Armourtex to powercoat it for 60 notes.
I have a plug, its a bit heavy - but I love it, I have had it nearly 18 months now and have changed pretty much everything apart from the frame, which will be changed this year. Doing it this way means you dont have to shell out a massive amount for what you want in one go.