In 2005 it was a great frame. But it's pretty seriously off the pace now.
Having defected from Colnago to Look, via a 585 and then a 595, it's very nice to be riding a Colnago again. The 585 always felt a bit wooden and dead to me. The 595 was better, but then...ISP
Still I guess the value for money is very good now, and they were pretty well built frames. There were 585 threads (pretty sure I started one), but they would be about eight years old now.
Rico, I'm going to have to disagree with you and echo what sawyer says. Sure frame technology and composite layup has come a long way since the 585 was first designed. But you could do a lot worse with selecting a frame than going with a 585. In terms of a bike that can do a lot of things really well, I think the 585 hits the spot. Even after all of these years. I still have mine and plan on keeping it forever. Just one of those frames once you ride, you realize if you sold it you would regret it and want to keep it. How much are used 585 frames going for now? I remember getting mine for $550 on eBay and was in great shape. Not sure what other frame you could get for $500-600 and still have a quality frame? Maybe the FM066SL or similar. But there is something special about a lugged frame. They are becoming more and more rare.