Trek 3700

$249 is a good price for the 3700 - I saw it for $10 more at my bike shop. I just bought a 3500 two days ago. The differences between the 3500 and 3700 are the headsets (threaded vs. threadless) and the front fork (steel rigid vs. RST suspension). I opted for the rigid fork because it's a little bit lighter, and because for commuting on a college campus, I've got all the suspension I need in the big fat monster truck tires that come on it. If front suspension isn't important to you, or if it's very important, I would say consider the 3500. That way, if you don't need fs, you aren't paying extra for it, and if you do, you'll have saved money which you can put toward something better than RST (which is just about anything).

I paid $219 and I am astounded at the value. My previous bike was a 2001 GT Aggressor 3.0 ($329 paid, MSRP about $349). Component-wise, the Trek 3500 is a better bike, even though its components look worse on paper. Looking at the thing in person (I got the blue/silver paintjob), its looks, with the blue metal flake paint and flawless chromed oversized aluminum tubes, are fantastic - hard to believe it didn't cost twice as much. It comes with Shimano EF-29 shifters and Tourney derailleurs, but let me tell you, if the shifters and derailleurs had "Alivio" written on them, you would never know the difference. The rear derailleur even has a built in rollamajig, which the XT, for example, does not - although it does have a big red plastic cog which lends it that cheapy look that helps Shimano sell more expensive stuff.

The main problem I have with entry-level Treks (including the 3500 and 3700) is the geometry which is relaxed compared to other MTBs. The stem is high and the seat tube angle is steep, which puts your position more in a more upright, "comfort" style position than other MTBs. Good for comfort maybe, bad for descending because your weight is more forward, and also bad for speed since your body becomes even more of a parachute. There are ways of getting around this, though: 1) Move your seat back as far as it will go; 2) Get a lower stem; 3) Flop your handlebar upside down (it's a riser bar, make it fall instead). But it's never going to be as aggressive as, for example, a Gary Fisher.

If you're not worried about geometry, the 3700 (can't speak for the front fork) is a great value. If you would like more traditional geometry, you can get a Gary Fisher Tarpon, which has basically all the same components, for about the same price. Of course, the Tarpon isn't as good looking...