Or spend $10 via craigslist/ebay/garage sales, or wait for one to show up on the curb/freecycle. I'd expect most ecomodders can get an old bike working again and get a lot more miles out of them.
I like the old 10 speeds myself, much easier to pedal/coast on with the skinny tires. Just gotta take it easy on the bumps/curbs. Also, salvage a spring seat and bmx bars for a nice comfy upright ride, works for me
