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@Courant
PS Actually, it's worth noting that Aluminium frames are the frames of choice for racers on a budget, pro or amateur. Cheap, stiff, either cheap to replace or robust in a crash, light. The Cannondale CAAD is just one example of an Alu frame (at Evans, a little over your budget) with a strong race pedigree. Of course, if you're doing longer rides, you want your frame to emphasise comfort, but I make the point simply to illustrate that carbon is not the holy grail of bike frames (if you consider cost).