I guess that's what has me puzzled. I get the "sensible bikes" and "sensible people" part, but how is $1,200 a "sensible price?"

Maybe I'm a dinosaur, but the GT Outpost I bought in 1996 for $300 got me through 4-5 years of almost daily mountain biking, has taken me over hundreds or thousands of miles of road all over the country, and still gets me to and from work safely several days a week, eighteen years later. I haven't priced bikes lately, but I estimate that this bike (or its equivalent) would be about $500 now.

The first thing many NY City bicycle commuters do is deface their rides to lessen their appeal to thieves. Others just ride clunkers to avoid having to worry. So why would a commuter ride a $1,200 bike to work? I'm not trying to be a smart-*ss. The investigative side of me just wants to know!