I love biking, but I'm not a techhead/gear junkie. If you wanted to know specs about my bike, best I can tell you is that it's red.

That said: If you're not sure what exactly you want, buy something used. Check the euro version of Craigslist--at least in the US, there are always tons of bicycles there. Might not look pretty, but usually with an hour or two of cleaning and lubricating, they're rideable.

If you know vaguely what you want, you should go to a local bike shop. The poorly-er lit, the better. Talk to the shop guy--he's in it for fun and not for money and will get you what you need. As far as BIFL goes, the frame and handlebars should be permanent. Everything else-wheels, chain, brakes, cables--all of those are consumable parts that you'll learn to replace and repair.