New to riding road bikes (road mountain bikes and BMX previously).

This would be my first road bike - plan on using it to do a couple of Sprint Tri's and maybe a Century ride.

Been shopping around for new bikes and came across what I think is a great deal. Just need feedback from someone who hopefully knows more.

Here's the deal ($1500)

2006 Specialized SWORKs Frame (aluminum)
Spingery Stealth PBO wheels
Crank, shifters and rear derailer - D/A
Brakes and front derailer - Ultegra
Look Keo sprint pedals

All the components were purchased new and installed in 06. The person who owns the bike races mountain bikes and used this bike for road training. Claims the bike has ~5K miles total use. Bike looks to be in good condition.

Questions:
How many miles is too many miles for the groupo / wheels / frame (obviously assuming bike has not been abused and well maintained)?

Is this a good deal or am I better off simply buying a new Felt?

Aside from the obvious (scratches/dents/dings/rust) what should I look for to identify wear and tear (especially within the wheels, frame and components)?

This bike may be too much for what I am trying to do, however I'm sure everyone of us would buy a Porsche or Ferrari if they were priced the same as the Honda Accord right?:D

Thanks for your feedback.

If the thing fits you correctly you it is probably an ok deal. Check for chain and chainring wear-in 5,000 miles the chain is likely worn unless it has been replaced already. If the D/A chainring teeth show a lot of wear than the thing has been ridden more than you have been told.

Also check the wheels for big wear, trueness and dents. If he is an ATB racer I'd suspect he has ridden that thing in the dirt a time or two which will wear things out a lot faster than sticking to pavement (but what would be the fun in avoiding dirt?).

Agree with MB1. Assuming that everything you listed about the bike's age and use is true, it's probably a pretty good deal. I would ask about prior maintenance and replacement of things like chain, brake pads, cables, etc. If these areas have not been addressed, maybe offer slightly less to offset the price of a thorough tuneup and inspection at the LBS...or maybe just a good fitting if you are OK with working on your own rig.

One other thing I will add is to note how many (if any) spacers are left under the stem. If the steerer tube has been cut really short (nearly zero stack height) your fit adjustment options are limited. it's not the end of the world as long as it feels OK to you, but if you want to get your bars much higher down the road you'll end up with a goofy looking riser stem or an entirely new fork.