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JamesNQ, you are essentially a man after my own heart: a different generation, yes, but basically the same thoughts.
I made a decision in the '90's that I would not modernise my kit. I was already past my prime even as a vet, so this was hardly going damage my 'career'. In the past couple of decades I have made a modest effort to ensure that I would not run out of expendable kit: for example by collecting screw on blocks and TA chain rings. This has, for really quite a modest expenditure , worked quite well so far, and in fact I now fear I won't nearly have enough time to wear out the equipment I have.
I really cannot understand why non racing cyclists think it's important to update their bikes - I can only imagine they are victims of advertising. The idea that some new piece of kit will enable you to compete with the strongest riders would forgiveable in a fourteen year old, but what can one think of an adult who believes this sort of rubbish?
So far as obsolesence is concerned, I'd just like to mention (again) here that the five pin chain ring fitting which I favour was, I believe, originally introduced by BSA in 1904, but was still available in TA and Stronglight into the 1980's. I have a (probably) pre-war BSA crank mated to a TA Cyclotouriste chainring which works perfectly in....2020!
I suspect that a lot of the silly ideas which JamesNQ complains of are caused by the failure of these riders to take part in actual bike racing, especially road racing. The experience of being in a fast moving bunch, and still more being in a break soon demonstrates that 'it's not about the bike'.
I traveled to Australia last year and worked in a bike shop for a few months.
We had customers coming in wanting to swap their 'old' bike in for something newer. 2020 bikes had just come out and some of the bikes were only 2 years old.
Most of the guys wanted the 'new, faster' model, but didn't bother checking their tyre pressures unless they've got a flat (seriously, someone running 60mm Zipp wheels was running 50psi). Kinda made me realize it was never about performance, more about the justification for a new toy.
I guess it goes both ways as there's guys spending £10k on road bike and people chime in "yOu DoN't NeEd To SpEnD tHaT mUcH mOnEy UnLeSs YoU aRe RaCiNg" but then I thought (if I had the money) I'd drop £10k on a bike that I really want with 0 intention of ever taking it racing, just because simply 'wanted' a bike that nice (Colnago C64 btw).
Kinda annoys me because most of the bikes just needed a full service. With just about any bike you can get it to ride brand new just by putting on new hoods, new tape, inner + outer cables and giving it a clean. I feel it's the 'feel' of a new bike people like.
High-end kit is obviously worth it if you're in the top 1% of racers who are fighting for that extra second or so, but for 99% of people I feel a 'decent' road bike, that fits, will be quick enough.
I currently run a beautiful 1994 Colnago with 10sp Campagnolo on it and I'm really happy.
I also own a TIME carbon bike with 10 speed record on it, and it honestly rides as nice as anything you can buy for around £4k. I paid £500 for it because it's from 2009.
68mm BB, 27.2 post, 1 1/8th steerer and QR wheels on rim brakes is what I love, I'll be sticking with it for a good while!
I guess the hobby we love so much has always had incremental advancements in technology, but it's just getting a bit of a joke with how often kit is becoming obsolete.