answered about 17 months ago by alpha

I'm not too sure exactly which shop would be the best at this point (as it's been a while since I was in the market for a new bike), but I know someone who bought a new Vietnamese-made Wave for less than $700. He's had no problems with it in that time.
As for the license...of course while I would never suggest that someone should openly show disregard for the law, I must also admit that I've never known any foreigner in Hanoi who had a license.