Hey all--I could use some help with a decision. I'm getting a new (to me) bike for commuting and running around campus, and I have two options at this point. One is a 2001 Raleigh SC200 from a college student who is heading out of town; she's asking $215. The other is a steel-framed, 70's-era Peugeot mixte from a local bike co-op for $275.

I've taken both for a test ride, but don't feel like I know a lot more after that. The air in the tires on the Raleigh was low, so it was more draggy than it ought to be, but I liked the nice upright position. The Peugeot was zippy and fun, but the type of handlebars they had on it meant I had to lean forward and look up, which I was hoping to get away from. My previous bike, a 1987 Raleigh Mountain Tour (stolen last fall, I'm still grieving) was a lot of fun, but for regular commuting, like I'm hoping to do, the position put a lot of stress on my wrists and neck. The bike shop guy said that as long as I just wanted a different set of used handlebars, they'd change them out for the same price. I love the idea of the classic mixte, but is $275 a crazy amount to pay for it?

I don't anything about the quality of components and stuff like that on either bike--so what are the really important things to find out before committing?

Thanks for any advice!