Under $700, the GT GTR 5 gives you a lot of bike for the money. Decent Taiwan-made frame, mix of Microshift and 2300 components (with the usual Tektro brakes on cheap bikes), Schwalbe Lugano tires, and a carbon blade fork (most under $700 bikes come with alloy forks). The wheels will be cheap Jalco or Alex but any bike that runs under say $1000 will have pretty crappy wheels.
You can probably pick up a Trek 1.1 or the base model Specialized Allez for under $700 too, if you haggle a bit.
Look at some leftover 2012 close-outs, too. You might be able to move up to a 9 speed Sora group, instead of 8 speed 2300.
If you're new to biking, Shimano drive trains, in ascending order of quality and price, are 2300, Sora,.Tiagra, 105 Ultegra, and Dura Ace. 2300 is 8 speed, Sora 9, Tiagra, 105 and 2013 Ultegra are 10, and Dura-Ace (and the 2014 version of Ultegra) 11 speeds. Microshift shifters will work with Shimano derailleurs, so some bikes will give you 8 or 9 speed Microshift. I actually prefer them to 2300 and Sora.
