Along those lines - where do you draw the line? (posed to those that think there are levels of equipment that "slower" riders should not "waste" their money on) Do you draw the line at simply having a functional bike? Should there be a test before anyone is allowed to get anything nicer than a walmart version of a bike? Until then that's all they "need"?

I don't know about anyone else but when I personally have nice gear it makes me want to ride more often.

I am a sow fat old guy who rides nice gear. I race just about every weekend as well....but I suck at it so I should not waste my money on entry fees either I guess. Would hate to help support the local race scene.