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I'm not a hardcore cyclist, but I suppose how much you decide to spend depends on what you want ...not to mention what you can afford. Weight seems inversely proportional to price and I like reasonably light weight but strong and reliable. I think the smooth, reliable shifters, brakes etc. all cost more than cheapo stuff.
Since I got a really good deal at the bike shop where my daughter is a mechanic (but still well over $300), I ended up buying a "middle of the road" Marin Fairfax bike last year that I still very much really enjoy riding, but it's a road bike not a mountain bike. The Marin mountain bikes I tried also seemed very well done.
I ride mostly alone except when I ride with my kids. When I'm with them, I feel like a parent watching over them but I still enjoy the rides and we have lots of fun exploring trails and back roads. When I'm cycling alone, it makes me feel serene and independent, my brain seems to engage in a different gear with different thought patterns when I ride alone and I like it.
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