After being unemployed for several months I find myself in the enviable position of having two written offers that meet the (very) bottom of  my expected salary range. In both cases I would be making over 10% less than my last position. The offers are equal in most respects, except company B has offered a 10% signing bonus. Either position would be a great opportunity, but I do prefer the position at company A. My question is should I risk the offer at company A to negotiate a more favorable offer?

A couple of factors that are complicating my decision:
- When I reached the point of discussing expectectations with company A, they admitted upfront that the salary range for the posted position would not meet my expectations, but they would consider reposting the position at a higher grade if they decided to make an offer. They did repost (I saw the changes on their job site), and did offer me the reposted position.
- The HR rep at company A indicated that since they're in the second half of fiscal 2007, I would not be eligible for a merit review until Q4 2008. (company B has no such restriction).

My inclination is to simply accept company A's offer, but I don't want to short change myself simply because it's the path of least resistance. Any input will be appreciated.