One of these might be a really fun runabout bike

http://www.oldschoolhardknock.com/

I guess they can be made street legal, and at only 2 grand or so it'd probably be fun to ride to work and whatnot. 200cc should be fine around town.

/Not a canoe, just thought these were cool.

I'd think it'd be way more fun to build you own from an old unloved bike. It keeps the used market for those older bikes around for the rest of us who need parts.

That'd be a fun City bike.

Reviews seem to be mixed. The bikes come out of China, and the fit&finish is pretty hit or miss. If you're willing to tinker with it, they're a cheap little run-about that's not a scooter. If you want something you can bolt on the wheels and ride, you might be disappointed.

$1500? I spent more than that on beer trying to build one.

I've looked at those and they seem cool. The only thing that would keep my from buying one is that I can build an XS650 bobber for about the same price.