Adventure Girl suggested "My suggestion is that you buy the best bike you can afford and still be able to pay the phone bill"

there seem to be two philosophies-get the best frame you can afford and upgrade as you go or....

go for the lust bike.

I managed through some "how do you do this and stay in bussiness?" deals from my LBS to just keep my current bike squeeking in at over 4 grand including CA's 8% sales tax

Am I broke? Yes!! This was a strike year, I walked a picket line for 4 days, newly minted single person, just moved, just bought a condo etc.

I don't have a couch, haven't finished the kitchen cabinets, I only have a 13' tv ;-) I-don't-care, I love this bike. I can't imagine a single upgrade to it....yet.

Do I regret it? No. Not one bit. A good bike makes you a better rider, I ride more often and when I do it's further, faster, harder and more pleasure than another bike. From practice rides to the hardest days of the AIDS ride there are things I could not have done on any other bike.

This does not make less expensive bikes any less of a bike or those who ride them less of a cyclist.

I've been dusted, on my new ride, by sports touring bikes, recumbants, hand cyclists even!!!!

I'm a huge fan of upgrading. My old bike (and namesake here) was a bottom of the barrel TREK. Over time, when stuff wore out I upgraded the h*ck out of it. As I repaced parts I'd look on Treks website "If I had to replace the bike what would I have to get to have equivelant parts?" Before a thief got her, I'd have to get the 5400 to get even close. Original cost $400 I'd love to still have her and when you take a bike and gradualy improve it, you basicly have a custom bike.

Whichever way you go the most expensive bike is the one that sits in your garage because it doesn't fit, suit, meet your needs.