I just finished my latest round of upgrades this weekend. No pictures yet but soon. Here's my list of everything I've done with this bike:
1. Replaced rubber rim strips with cloth tape.
2. Swapped stock tubes for QBP ultra-lite tubes (these are 451 tubes- if you don't like stuffing a too-big tube, don't do this. Works for me.)
3. Swapped the stock tires for Panaracer Minits Lite. (In hindsight I'd pay the weight penalty yo go with Kojaks)
4. Added a protection strip to the rear tire (see above).
5. Swapped the stem for an Origin8 Ultim8 120 mm stem (bought a 26.0 stem by mistake, the stock bar is a 25.4)
6. Swapped the stock bar for a 26.0 bar of very similar dimensions and shape.
7. Swapped the stock cranks for a older Sakae square-taper set I had kicking around.
8. Swapped the big ring so I have a 56-42 up front now.
9. Swapped the cassette for a SRAM 11-32.
10. Swapped the brake lever bolts for shorter ones that do not bottom out on the bars.
11. Swapped all cable housing with white because it looks cool.
12. White bar tape to match all the other white going on.
13. Swapped the stock saddle for a white Ti-railed one from Nashbar.
14. Swapped the bar plugs for white Origin8 ones that use an expanding bolt.
15. Replaced the stock pedals with a set of look Keo's
16 Swapped the BB to make the new crank work (needed to go a little wider).
All in all I'm pretty happy with the changes. The Minits Lite tires have not been a total success, but I'll get my use out of them. I have no problem stuffing the light 451 tubes in the 406 tires. I could drill the rims out to Schraeder, but all of my other bikes are Presta. The stock saddle simply had to go, as did the pedals. The replacement stem is prettier and longer, but if you need the rise the stock stem gives you, look elsewhere. I ride this bike with a pretty good drop with the replacement stem at minimum insertion. Replace the fixing bolts for the brakes with ones a few mm shorter- this is actually a safety issue in my mind. The new gearing is great. I have the full range of the cassette from the big 56, and the easier half of the cassette from the 42. About halfway down the cassette when I'm on the 42 I get chain rub against the 56. I could get a BB with an even wider spindle but i'm not sure I'm willing to sacrifice the Q I have just to get access to gears I don't need.