Short background...

I bought this Trek 470 new in 1997. I added an Avocet saddle and Speedplay peddles and took it for a few century bike rides. At some point afterwards I hurt my knee and stopped riding. The bike, which I had loved so much back in the late 90's, sat neglected for 15 years.

Earlier this year I decided I needed to revive this bike, but found the RSX shifters no longer working. I upgraded to 105 shifters with the new 10 speed cassette and Synchros RR2.0 wheels. I've had a great time riding this thing again, and I've love to get a new fork, but the 470 was never a top end bike. If I was the enter a competitive event with this bike, how much of a disadvantage would I be at with what is now an aging 22lb chromoly bike? Both in terms of hardware and possible snickering from others riding a bike that originally was possibly more suited to Miss Gulch on the Wizard of Oz?

Appreciate the feedback...