That's the steerer tube, it's uncut because that's how they come. Don't worry, you can cut it. As to whether or not it's a good deal... I don't know.

[quote=tsilcyc]That's the steerer tube, it's uncut because that's how they come. [/quote] You don't want it cut because the previous owner may have cut off too much to fit you.

Not really because a fully built-up frame (Bontrager wheels, Shim 105 groupo, post+seat, cables) lists for $1219. You'd spend WAY over $439 for wheels, groupo, post+seat, cables and assembly. Even if you already have a groupo to add to it, I think the price is a bit high.

http://www.leaderbikestore.com/pd_ld_730tt2.cfm

I'm with the Sooner. That deal is a no go to me. Looking entry level? Felt, Cervelo, and QR make great entry level product that will spank a Leader frame anyday- for not a whole lot more money. Save your pennies.

You can get the frameset off ebay for a lot less than that, and the leader is already rather heavy, so a blackwell fork won't make a lick of difference. The rest of the components add up to about $3 in street value, so the buyer of this would be getting taken for a ride.