RE: Suppose you have $300-$400...
Well, for that kind of money you could probably get some of the 2002 "high end" models on Ebay or you could go with some of the mid-price range bows currently on the market for 2003.
If this is an upgrade or a "new to the sport" type decision then I would probably opt for one of the 2002 "leftovers" as the person will be getting a top-dollar bow for 2/3rds of the cost.