I decided to go with the PE 770 after all. Before placing the order on Ebay for $455.00, I checked Amazon one more time and found a deal even better than the one I missed out on. I was able to purchase a NEW one for $400.00 plus 17.99 shipping! Doing the happy dance! lol
Thank you all for your advice.
http://www.amazon.com/gp/offer-listing/B002MQI2NM/ref=dp_olp_new?ie=UTF8&condition=new