Thanks for all of the responses, you guys are great!
I did some searching yesterday and found a Cycle Ops Fluid2 on sale for $350 with free S&H, mat, front tire block thing & cadence sensor. I'm guessing that's probably what we will do.
It still seems expensive to me, but I'm trying to realize it's a treadmill for my bike and that explains the cost. Can't help but think of how that money could go towards my own Garmin or 1/2 of a new snowboard deck though. Oh well, tri gear comes first.