The original small wheeled 'Lazy F' frame Moulton hit the streets back in 1962 and pretty quickly captured about 20% of the British cycle market. The patent was sold with the intent of expanding this market, but the new owner preferred the status quo, and let the design languish. Alex Moulton came up with a new patented design: the space frame (see left image), which he released in 1983. With a frame like a trussed bridge and short spoked 17" wheels Moultons were incredibly rigid, so the ride was evened out with front and rear suspension, probably the first commercial bike to offer such refinement. A 20" mountain bike version followed not long after. However being hand brazed, from 531 Reynolds racing steel, these were expensive bicycles. So in 1992, a licencing partnership was developed with Pashley, the UK's longest established bicycle manufacturer, makers of commuter and work bikes. The resulting Moulton APBs (All Purpose Bicycles) were more affordable, albeit in a heavier, clunkier frame. About this time last year the two companies unveiled the Pashley-Moulton TSR. Weight is down, specs are up and there is a choice of 3 models ranging from the TSR 8 (Sturmey Archer 8 speed hub) for £895 to the 30 speed Campagnolo Veloce model (shown here) for £1350. Add £100 and you can have a version that separates in half. Still not a bargain basement bike, but the ride is heavenly. ::TSR. (In the US contact Angle Lake Cyclery or North Road Bicycles for pricing.) PS. though it might look weird it's no toy. Moultons hold the world speed record for unpaced (though fully faired) bicycle ridden in the upright position. 51 mph (82 kph).
Disclaimer: This writer has ridden a Moulton AM7 for probably close to 18 years, so concedes some bias!
Apologies for some earlier typos, now adjusted.