Hey-
Well, I was confused at first about you saying the 1500 doesn't come in a 47 as that is what I have... but after visiting the Trek site I see what they did... the old 1500 is now the 1600, which does come in the 47 WSD.
As for the question about the Pilots and if the 2.1 is really $500 better than the 1.2... after looking at the technical specs on the Trek site I would say yes for these reasons:
1. the 2.1 has shimano 105 components all around and ultegra in the back... the jump from Tiagra to 105 for the front derailer is a huge jump, and you would not outgrow these components in a year (or more), unlike the tiagra on the front, which you very well may wish you had something better a year from now.
2. the 2.1 has carbon seat stays in addition to the carbon fork. These are the triangular stays that go from the seat post area back to the back wheel and will make for a smoother ride without having to go to full carbon.
3. the 2.1 comes with SPD clipless pedals, the 1.2 comes with traditional platforms. That means you are going to be out ~$100 when you add the clipless pedals to the 1.2 as opposed to having them right up front.
Now this, all being said, they will both be good bikes, and plenty of people are really happy with their Trek 1000 and Pilot 1.2, so you really can't go wrong. Have you ridden both of the bikes? The reason that I ask is that the 1000 is more of a traiditional race geometry while the Pilot series is designed for a bit more relaxed riding style. So, when you ride them you might find that you really like one set up better than the other.
Have fun shopping!
Jenn-
I found that the bontranger bar tape that came on my Trek 1500 didn't stay well wrapped at all... I lived with it for a while and then just got them re-wrapped,and now all is great. I would second the suggestion to take it back into the shop and see if they will re-wrap it for you since you just got the bike. (I couldn't do this since I bought mine used from someone on Craigslist).