Joined: Nov 2007
Posts: 3,549
Likes: 1
From: Somewhere between heaven and hell
Bikes: '09 Jamis Komodo, '09 Mirraco Blend One, '08 Cervelo P2C, '08 Specialized Ruby Elite, '07 Yeti AS-R SL, '07 DMR Drone
There should be tons of topics on this, but I think our search function is having issues, so I'll throw some stuff out.
Spending more typically gets you better gear. Better materials, sealed bearings in the pedals, lighter, stiffer soles on the shoes, etc.
Don't buy road shoes and pedals for mountain biking. Mountain shoes have a rubber sole with lugs, and fit a mountain bike cleat.