Well, the short answer is - there are bikes with better technology, better engines and better build quality out there. I myself own two Royal Enfields, but the technology is still ancient and apart from the retro looks and the charm of owing a 'Bullet' there's nothing which would convince me to buy one today. There are far too many Royal Enfield bikes out there, and although the bike isn't bad per se, there are better options with better reliability and performance. In that same budget, you could look at the Yamaha FZ25 - great bike, and also the KTM 200/250. The Yamaha is more comfortable and the KTMs offer more performance.