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@hippy
New stuff is lighter and faster though if you're touring, that's largely irrelevant.
Race bikes I'd always go new, touring bike I'd probably get something older, if only to make it look less nickable. Things to be wary of - rust, broken parts, stupid French sized anything, seized parts, the fact it's harder to get some replacement parts for older stuff.
http://www.lfgss.com/thread52715.html