I add my voice to those who have suggested holding off and saving your money to get a non-entry level bike. It might take longer that way, but you wouldn't regret being able to get more bike for your money. It is possible you might be able to find something nicer from Craig's list - it does happen. I like Emily's alternate suggestion of using that money to get a new frame and moving your parts over, you would want to get an estimate from whatever LBS you choose on what they would charge to do the work.