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@andypancake
In the last 5 years I've had many "NJS" frames... The cheapest was a 3Rensho (£220) 4 years ago and the most expensive was just over 3 times that...
Bridgestone, Nagasawa, 3Rensho, Makino, Giro, Samson, Panasonic, Vivalo and Peloton...
£500 in this current climate will get you something nice.
This is a great example:
http://njs-keirin.blogspot.com/2010/07/peloton-black.html
£382.00