Last year when gas hit $4 per gallon I convinced the wife it was time for me to get a motorcycle again. I hadn't ridden for 28 years when I flew over a car. (It cut me off in the snow.)
I picked up a 1985 Suzuki GS300L for around $400 including the cost to have the carbs cleaned out. The saddlebags came from ebay, rear rack was $10 at a scrapyard, windshield was $40 on ebay.
It paid for itself last summer in gas savings versus my trucks. I normally get around 60 something. The best tankful was 67 MPG, the worst was 54 MPG.
Oh, and the bike RARELY goes beyond 40 mph since I live in the same town I work in, 4 mile round trip commute. The town speed limit is 35 unless otherwise posted.
I like the styling of the older cruiser style bikes. They don't make bikes like this anymore, a small bike with big bike style.