So, I got around to actually riding the Collegiate more than just around the block. I rode it about 3 miles round trip to the coffee shop and back. Here are my impressions:
1) Wheels are horribly out of true (just one more thing to work on).
2) Ride is super upright (not a bad thing).
3) Can’t wait for a rack (holding a book while riding was doable, but not comfortable… should have used a sling bag).
Also, the bottom cable guide slipped, which was a pain because I could figure out why it was hard to ride (stuck in 3rd / high gear). I’m going to get something to help it stay gripped to the frame better.