eBay and Craigslist finds

No you don't need anything.

My boss did his first last week. 10 miles is the Malvern hills, on a geared (really rather nice) Soma. It took him 28 mins. The aero guys on carbon things were doing 21 mins.

I really want to beat him, fixed of-course.

err... I think that should read 'the aero guys with twatting big legs on carbon things where doing 21mins'

Normal Eastway/Hillingdon crits average at 26/27mph even the Elites. That is with a bunch sharing the work. Time Trials do look a bit boring compared to road racing, but I have to say a solo ride averaging 28.5mph for even 10 miles gets my respect every time.