Priorities for me are
1) fit, fit, fit in descending order of priority
2) groupset / correlates to your budget
3) frame material (correlates to your budget and aluminium leaves more money for componentry) (actually this would be preceded by weight but the components factor into that as well)
4) rest of componentry - wheels, pedals, handlebar, seatpost, in descending order of priority)
5) distance to LBS vs. support you get (initial fit, recommending bike according to your needs, not according to what they have on the floor or need to get off it - tune-ups, turnaround time for repairs, selection of other stuff you can get in descending order of priority)
color comes wayyyy down the list.