Another considerations is how mechanical you are. If you're not mecanically inclined, you are gonna come out WAY cheaper to just buy a higher end bike up front.

I bought a cheap starter bike. Then I bought a decent entry level aluminum bike. Then I bought a better groupo to upgrade. Im currently having that group moved to a carbon frame. I've probably spent more than this complete set up would have cost in a single shot

Yup, I coulda been a a bit better bike for a lot less hassle. Of course, I've also learned a lot along the way. So I guess that counts for something.