I've been doing quite a bit of research for which bike to buy for home use. I was initially interested in just getting what I have at the gym the Schwinn Evolution. In a store, I was almost sold on the Schwinn A.C. classic or sport, but the seat was very uncomfortable, and I while I loved the magnetic resistance, I wasn't quite convinced by the ride.
Then I found all of these fantastic reviews on the M3. I called around, but it turned out none of the stores that sell them in the area, had them on the floor as demo. Finally, one sales person admitted to me that even though he (and everyone else agreed) thinks it's a fantastic bike, they don't keep it on the floor because their margin of profit on them is much smaller than it is on other bikes.
I didn't want to invest without trying them out, so I called Keiser and found out who our local rep is. Sure enough, he had one we could try in his garage. This is the most amazing piece of engineering I've ever seen on a bike!!! This guy had been with Keiser for 18 years, and knew every detail of what's going on. Basically, they started developing this bike after years of taking losses because they conformed to the price standard in the market, and at that price, could only manufacture bikes that like every other bike, would break and need maintenance. The maintenance cost them too much money, and they got tired of it. Being a small independent company, they decided to do something about it, and the M3 was born. They are ruthless about their price policy of it, even if you buy 250 of those, the discounts are fairly minimal. On the other hand, these bikes require NO maintenance!!!
If you look at their 3 year warranty carefully, you'll see that labor is not included. I called to ask about that, and they claimed on the phone that labor is not NEEDED, because everything you might ever need to do, is so simple you could do it yourself. Well, my spouse has a strong engineering background (experimental physics), and we inspected every aspect of this bike. They're right. It is TRIVIALLY simple to put together, and there's basically nothing that could break!! If you can handle a screwdriver, you can handle this bike! The engineering is GORGEOUS, someone really put a LOT of thought into the design. And the ride, oh the ride... Smoothest ride EVER! And SO comfortable! Everything from the saddle to the positioning, just perfect!!! The balance feels just right, it's super quite, and most importantly, there are really no parts there that could break, except perhaps the computer. As far as maintenance is concerned, according to this guy, it's limited to cleaning up your sweat from the bike, after a workout...
I should mention, when I was looking at the Schwinns, they offered me the floor model at a ~15% discount. The flywheel looked pretty scratched, basically it looked used. The demo we saw, is the same demo the guy has been using for 5 years, to show gyms, take to shows, show private clients, etc. If he had told me he only unpacked them yesterday, I would have believed him. They looked brand new, 5 years later!
Finally, Schwinn spin bikes division has been sold and resold and keeps moving hands. You really don't know who you're buying from (the Schwinn A.C. are on the Nautilus website - their latest buyer, rather than on the Schwinn site). Keiser is solid, made in the USA, and you know who "their daddy" is... And keep in mind if a sales person tries to sell you a schwinn over the keiser - their margins of profit are MUCH smaller for the keisers, and they usually work on commission.
Anyhow, to make a LONG story short, we bought the bike. It was a no brainer. I'll update my review after I've used them for a couple of months at home, but I fully expect the 5 starts to remain. If you can't find this bike anywhere to try them out before buying, I recommend you call Keiser, and they'll help you out.
*** ADDED A FEW MONTHS LATER *** (Jan 2011)
Now that I've tried these in my pregnant and non-pregnant state, I can stay 100% - I absolutely adore this bike!! I've been using it almost daily. It's SO smooth, quiet, and comfortable - in seated AND standing positions! I don't get the people who talk about wrong fit. I am 5'6", my spouse is 6', and it adjusts to each of us perfectly. Maybe if you're extremely tall or extremely short it might be an issue, but then I bet a lot of other bikes would be too. This is just a very natural ride, the computer is fantastic, and overall, I can say only good things about this bike (and I've tried many other bikes at gyms, including the popular Schwinn Evolution. I *far* prefer this one to any of them!)