Im fairly knew to the whole "cycling as a dedicated hobby" thing (as opposed to merely a means of transport/on-again-off-again occassional fitness fad) so my point of view may be fairly redundent in all fairness compared to more experienced voices around here, but even so;
I'd possibly venture not getting too caught up in how much you are spending, what you are getting and specific brands of bike beyond a few sound basics.
I've only been knocking around here for a week or so (so again, weight this post as you see fit) but there seems to a good array of opinion and suggestions knocking around this site; all smashing and constructive stuff to drink in but without a personal reference point perhaps also hard to fully grasp?
My suggestion would be go out and find a really good LBS if you can, as this can provide a great foundation block now when starting out, and in the future aswell if you stick with it; if you find a good 'un their enthusiasm and knowledge is golden in getting you on and keeping you on! I still remember fondly my first visit to mine when I bought my current ride 12 years ago - their eagerness to show me different styles, discussing the ins and outs, the you'll want to consider this but dont really need to worry about that - and although I consequently lapsed and had little use for them in the intervening decade, since "getting back on" a few months ago, I am massively pleased I know where they are! Hopefully you'll find one with a decent mix of bikes so you can go in and try some out. Then you can make an informed decision on what feels best for you vs. what you want to do. If the 'right' bike costs £200 or £600, at least then you'll know why you are riding that particular bike and hopefully be enjoying it more so because of it.
I try to make no assumptions about what you want to achieve - you may have grand designs on becoming a full fledged competitive rider, or it may be a 4-times-a-week escape to make yourself just feel that little bit fitter. As someone recently returned to idea of being a "cyclist", I'd suggest that over-worrying about "is this the right bike, do I have the right gear" etc will actually detract from your enjoyment of riding which is what will keep you vested in continuing it in the long run. Aint no point in worrying about the finer points of kit if you then find being out on the road generally boring and repititive and not entirely to you're liking 3-4 times a week/for 3-4 hour blocks at a time.
All in my own humble opinion of course. I have no desire to try to over-rule those with more experience here than I. All I am suggesting is find a LBS (independent or chain), find a bike that you feel comfortable in the saddle of, strap a water bottle onto it and then cycle away again, enjoying the fresh air in your burning lungs and the feeling that your legs are about to fall off! The finer points can be discovered as you go along.
This post is from a guy who is riding a 12 year old hybrid, carries absolutely no "kit" beyond a bottle rack, wears trackies and a plain off-the-shelf
Nike sports top, pretty random non-specific trainers, but is loving being back out 3 times a week pushing the boundries of what he can achieve.
