I too snatched this bike up a couple years back on clearance for $36 or something. It was my first real road bike and it was alright. The components are really cheap and my derailer broke and I spent about $100 fixing flat tired over the bikes about one year lifetime. My advice is that if you can buy it for $50 or less go for it. It's a great bike to figure out if you like road riding or not (however the shock absorption of it was terrible). But if you have the money I would recommend going with an entry level Giant or Cannondale or something like that for around $700. It may seem like a lot but you won't have to buy a new bike every year.
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I recently purchased this bike at the very low end-of-summer clearance price of $37 at Target. It regularly sells for $149. The assembly was pretty decent and I only needed to adjust the seat height. Since my intention was to pick up a road bike for weekend rides of 10 - 15 miles at most, this bike is more than capable of filling that role. It's definitely not meant for serious racers or long distance biking. The seat can get pretty uncomfortable after an hour of riding. Shifting could be better, as the shifters are levers mounted on the goose neck and it takes some getting used to after using the thumb shifters on my mountain bike. The Schwinn next to it at Target had what appeared to be a much easier thumb shifter system which allows the rider to shift without taking a hand off the handlebar.
Braking was also sluggish, require a longer stopping distance than other bikes I've rode.
Overall, I was ready to fork over $100 to $200 for a beginner road bike like the Triax, so I'm more than happy to score the clearance price and persevere over the minor inconveniences.