I've got one of these. RRP is around £170 for the frame. They are amazing value and the perfect trainer. They ride really well - confidence inspiring and are a reasonable weight. I find mine suprisingly fast.
No down sides, other than nobody seems to know anything about them...which makes them sort of unique, I've never seen another one. Regal are the in house brand of All Terrain Cycles in Yorkshire - they are road bikes. Their in house Mountain Bikes are called Handsome Dog and are equally good. I think they are comparable to Planet X / On-One in many ways - great design, suprisingly good quality and keen prices.
I think they've stopped making them, so if you can find one - get it. You won't regret it. I actually prefer riding my Jester to my other road bike (a carbon framed Look).