I ride a 2005 Allez, (got it at my LBS for 600 including tax). I like it, and I race with it. In my first biathlon ever, I got 3rd in my age group (plaque on the wall), and that was taking the riding part easy! Last week I came in 53rd out of 400 some racers, most on much better bikes. I've also done century rides with it. Now, having said that, I am upgrading to something in the 2 grand range, but mostly cause I want a sweet bike and have the money to blow. It might cut a bit of time off on the hills, but it's more about how hard you push yourself, and for that, nearly any bike should do! You'll probably like the Allez a lot for racing. But beware, it's hard not to feel the need for an upgrade! --for now, ride what you have, just make sure you have some clipless pedals.