I lol at all the people that say 200 $ is too much for a bike.
In a way it is too much, because rule of thumb is: for that kind of mola you will get subpar parts, that will perform badly, and cost you either a lot of nerves or a lot of money in maintenance. One-piece-cranks, non-sealed bearings, and more often than not: not even properly assembled.
You basically wasted that money (unless you REALLY REALLY know what you're doing, and rip it apart and go all mad max on that thing... and looking at this thread there arent that many serious bikers), so in that sense it is too much... Really, spend triple that amount on the bike alone, and you will save A LOT of money in the long run. Maybe in the states it's a bit better, since most of the well established manufacturers actually come from there, so you can probably shave off a hundred bucks, but I seriously wouldnt go any lower... edit: A nice comparison for you geeks and nerds out there might be the PSU of a PC. Buy a cheap one, regret it in the long run. Buy a good one, use it for years without headaches.
Of course, this doesnt apply when you dont really like your bike, and it's just a bitch that gets used til it breaks down or it gets stolen. but the OP certainly doesnt sound like that.
edit:
just a little fyi, most (even the professional ones) bike thieves don't really go for the expensive bikes. It's a matter of looks. A lot of people that buy (stolen) bikes dont have a clue about component quality and whatnot. For instance about 3 or 4 years ago, maybe a bit more, the bikes that got stolen the most often (it's probably still that way) were full suspension bikes. No matter the quality, even the 200 buck bikes got stolen. And you could park your 4000$ road bike next to a 200 buck fully and have some chance they wouldnt even touch the roadbike, because it doesnt sell that well.
They mostly snag stuff that looks like the stuff that is "in" at the moment. Of course the above example is a slight exaggeration, but you get the idea.
The funny thing is... this $40 bike is actually nicer to ride than the old $200 bike.
Could we get sum pictures? I dont even doubt that the 40 buck bike is a decent one, maybe better than the one you got before
Because buying used stuff can change the whole equasion a lot.