Get on Amazon and check out Cadillac AV-8 or Cadillac AV-8.0i. It's a bike with a Sturmey Archer 8-speed drum brake hub and drum brake front hub. They're blowing them out for $250 which is probabaly what you'd pay for the hubs.
I have about 150 miles commuting on mine and except for the fact that the seat was a piece of **** it seems to be doing fine. The hub is exceptionally smooth and while I am sure there is a slight difference in drag between it and my Deore-equipped Raleigh trail bike, I just don't feel it and I complete my 11.1 mile commute in the same time.
It's a great bike, and you can leave the stupid backrest off. I don't know why they are selling them so cheap but the hubs alone are worth $250. I paid $300 for mine in August.