As for the pump / CO2 debate, I have no problem with getting 110lbs in my tire with my Topek Pocket Rocket, but it takes a while. If I am on a solo ride or out with a few friends, that's what I carry and that's fine.
If am on a training ride with a group, it just seems like common courtesy to have CO2, so I'm not holding up the group any longer than necessary. One group's 'no drop' policy is "You have five minutes to repair your flat and then we're on our way..."