Originally Posted by InTheRain

My argument is that if you're not going to use it... don't buy it. Or, if you're only going to use it occassionally, borrow or rent a bike. I would rather throw my money down the disposal than buy a bike and store it in my garage (takes up less space.)

I don't really ride with a "racing crowd" so they aren't always upgrading their equipment. Many of them ride reasonably lightweight steel frames with 7, 8, and 9 speed drive trains. I would say that more than half of the people in the group ride frames that are 10+ years old. In the touring bike community, I think you will find many that ride the same bike they were touring on back in the 70's and 80's. I plan using my touring bike as a commuter for well beyond 15 years.

People that do upgrade their equipment for the newer technology still seem to keep the old bike around. When I go on a group ride in foul weather, I see a lot of the people bring out the old bike as their "rain bike." I can see myself doing the same thing in another 10 years or so. If you regularly ride a bike, it is not passed it's useful life. A good quality, older bike is a great bike to have around as a loaner for a friend, or someone visiting from out of town, or a back up for when your main ride has a mechanical problem.