www.bikeforums.net has frequent discussions re: Bikesdirect. The consensus is that it's generally good service and worth the price, but the reminder that it's not the Motobecane of the 70s or whatever. They also sell under a different name on eBay. I don't remember the name, but it's pretty obvious as they're all taken in front of a dresser. They have some other bikes with similar good prices.
I guess the business model is to buy the marks of defunct brands and bring that back to life in name.