I am new to triathlons and plan to do a couple of sprint and olympic triathlons in 2005. I currently have a road bike which I really like riding. It is a Giant TCR Comp with durace and mavic ksyrium ssc sl wheels. What should I do to this bike to get it ready for triathlons?

I would say for your first one (assuming it is a Sprint) -- Do Nothing. Based on the bike you ride I'm going to make an assumption that you are a pretty good rider and therefore will be spending somewhere between 28 and 35 minutes on the bike leg. Try it on your road bike and get a feel for the event, you really won't lose much time based upon not being as "aero" as the others.

When you start training for your second event, try fitting your bike with:
1) Clip-on Aero-bars*
2) Forward facing seat-post**

*You may need to get a different length stem to get the proper fit while in the aero postiion
**consider a tri-specific seat that you keep attached to the seatpost. That way if you want to swap back for a group ride or something, you can just swap out the post (and maybe the stem) and you're on your way.

I agree. No need to do anything to the bike. Add some interval training and bricks (bike/run) workouts.

You're bike is just fine. I used to ride a TCR, but since my legs are long and arms short (for my height), Giant's don't really fit ME well. Went to a Kestrel Talon instead.

Back to the point... Especially in sprints, road bikes are quite alright. The further the distance, the more the gain from a tribike (due to aerodynamics and geometry). Just go with what you have for now.

Do not get long aero bars. Get a set of shorties like the ones made by Visiontech. They allow you to get semi aero yet not change your bike's geometry.

http://www.visiontechusa.com/fly.aspx?layout=product&taxid=143&pid=252

I was reading an article on www.bikesportmichigan.com when I first noticed them. Look them up there and you'll be able to make up your own mind.