I paid the same price for mine, but I got 35% cash back using live.com by buying on ebay. (which was a nightmare but worked)
I've had it for almost five months and put about 300 miles on it. Assembly was very easy.
It did develop some squeaks after a few weeks, but these went away when I loosened the offending bolts a bit. Too tight causes the grease to squeeze out of the moving parts.
Schwinn definitely made a well built machine, but it does not feel as sturdy as the nordic tracks I used before despite weighing 150 lbs (I think the nordic track was 180-200 lbs). It is about 5'8" assembled, and the footprint seems reasonably small. The tubular construction is nice, but it does flex and gives a sort of flimsy feel when you run fast (100+ RPM). The thing is definitely solid, but I could see a 200+ lb guy who runs hard not feeling the same way.
The feel of it is more like a bike (it even has a little graphic of a guy riding a bike on it), which felt weird at first but now I prefer it over the stride of the nordic track. You'll end up running a mile faster on it too. I used to run 1.5 miles on the nordic track in 30 minutes and it would end up reading out like 450 calories, while in the same time I run 3+ miles on this and it tells me I burned 300+ calories. I'd say the calories on the schwinn are more accurate (or else an hour of running is 900 calories for the average person).
The display is decent - it gives RPM, distance, time, speed, and calories burned. The programs are fine, I didn't use them after the initial try because I prefer just changing the resistance as I go. The heart rate monitor is accurate, but takes time to establish a pulse. It can measure 1 minute recovery which is a sort of measure of cardiovascular health.
The resistance range is 1-16 versus 1-10 on the nordic track. I typically run around 5 but go up to 12 normally. I would say the nordic track offered higher maximum resistance.
Anything else you want to know just PM me.