I had a couple of Dutch kiddie bikes, then whatever was right below the Schwinn Stingray (which is what I wanted but for some reason my parents didn’t get it for me)… but my first road bike was in 6th grade and it was a metallic green Schwinn Varsity (this is a '75 and mine was probably a '72) :
The Schwinn Varsity was made from 1960 to 1986!
Cool article on the Schwinn Varsity here: http://www.sheldonbrown.com/varsity-shaddox.html
I was 10 years old & it was Beekay (I think that’s how it was spelled) 10 speed painted in 1970’s orange.
same here, Christmas 1974 got the green Schwinn Varsity. Prior to that I would ride my dads Schwinn Paramount that he got for $10. I can still remember the look on his face when the LBS owner told him he would give him $250 without even seeing it (circa 1973)
Dude, my first bike was a blue Schwinn Stingray with a sparkly white banana seat! I rode that thing from '74 to '82. Then my uncle gave me his old Schwinn race bike. I don’t remeber the model. The first one I bought was a Puch in 1984.
First 10 speed bike was a Schwinn Varsity.
First real road bike was a 1984 Peugot PH10
jaretj
I had a Schwinn Varsity…thing probably weighed 40 pounds! It was indestructible, though. All of my other friends had BMX like bikes, so when they hit the trails, so did I on my Varsity.
First road bike I bought to actually do some riding on was a Trek, forget the model number, in 1984.
Spot
Trek 1000
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First real road bike that I bought myself was a Panasonic DX 1000. Got it in 1986, I think. It was a gray frame, with little splashes of white and yellow paint. Slapped on a set of Scott aero clip-ons, bright fluorescent yellow tape with little black skulls on it. Always went with the yellow fabric cover on my Giro helmet to match. Big old yellow framed Oakley blades covering about 80% of my face.
I rode and raced on this bike for 15 years.
Fiori something or other. Bright orange and yellow. 
Nishiki Tri-A. Purchased it sometime in the early 80’s.
Fleck
CCM bike purchased from Canadian Tire when I was a kid. It had drop handle bars and a three speed shifter.
My first real road bike was a Miele 12 sp (Suntour friction).
shwinn sprint, when i got more into it i got a giant kronos.
My first real road bike I bought myself (on credit) with the LBS and paid for it by mowing lawns all summer. I was 10 and it was a Centurion. It had suntour components and araya rims - very sweet bike - but heavy. I got a brooks saddle and put on it, and i would ride the thing all over town. the summer between 6th and 7th grade, I rode it to summer band practice 4 days/week - 10 miles each way. great memories! thanks for the question!
Centurian Accordo that I got when I was 13. The biggest upgrade I made to it was some wheelsmith built wheels, wolber rims with 105 hubs and aero spokes in front.
A green C-Itoh 10 speed that my folks got me from Scheels Hardware in 1975. Rode it most every where until I left home in 1980. Bought an Bianchi Giro in 2001.
Me and my sister shared a Sears Free Spirit in the early 70’s. Saved my pennies from my first job as a busboy / dishwasher in a chinese restaurant and bought a Viscount in Jr. High. Sold my first article as a graduate student and bought a Mercier with Genuine Campagnolo. Now I ride a Moots! Whenever my economic situation improves I buy a bike. Probably a reaction to the humiliation of riding a Sears bike shared with my sister in childhood when all my friends had Schwinns.
Some form of a 1980’s Bianchi. Not sure which model, but I believe it was either a 10 speed or 12 speed with campy components.
Puegot something or other. My mom is a frankofile. I got it to replace my badass bike with the banana seat that was evolving into an early bmx bike (this was the early 70’s). I needed the 10 speed to make it up to the top of the hill at our new house.
first bike huffy…
first race bike Raleigh with egg shaped crank
Peugot something or other, it was blue. shifters up on the stem, 12 speed. It was awesome.
I took that bike over some really sweet jumps.