Bike Fridays are excellent bikes, and this is a great price. I paid over $2400 for mine (also Ultegra) in 2004, and it's still going strong. I definitely recommend this bike to anyone whom it fits and who wants a travel bike or just all-round nice little bike. This would be fine for club rides as well since the PRP model has the 451 wheels vs the 406s I have and is the racier model with higher gearing (I have the Pocket Crusoe, the touring model with super low mountain gearing, racks, and fenders). This PRP should be a pretty zippy little bike!
One thing to know is that the "Petite" Bike Fridays are recommended for folks who weigh no more than 125 pounds as they use narrower frame tubing -- this also makes for a lighter-weight bike for we wee folk. I inquired, and the Bike Friday folks said that I could carry ~ 25 lbs. of gear as well, and I have, on loaded tours and lots of utility rides (grocery stores, farmer's markets).
Emily
2011 Jamis Dakar XC "Toto" - Selle Italia Ldy Gel Flow
2007 Trek Pilot 5.0 WSD "Gloria" - Selle Italia Diva Gel Flow
2004 Bike Friday Petite Pocket Crusoe - Selle Italia Diva Gel Flow