i ride as much as i can. I ride into work, and periodically go for lunch time rides (12-15 miles). if you plan to ride a lot, spend the money. If you can wait, a lot of bike shops have their off season tent sales and you can get a bike at 15-30% off (which means you can get an upgrade for free almost).
and as for the cheapies on Craigslist, they work great too. But be prepared to learn how to maintain them. Not to say thats a bad thing or anything, but you could nickel and dime yourself to death quite easily.
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My third eye is my camera's lens.
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