I do a mix of both. I am also fortunate that my favorite shop is good at giving me alternatives. They will gladly special order if needed, and tell me when it is cheaper to just go down the street to the hardware store. I was even looking for a piece for an old set of DiaCompe calipers one time, and they sent me a couple of miles away to another shop since the owner there used to be involved with DiaCompe, and he ended up having the piece I needed.

They also are good at letting me drool over the high end components... I remember when the first version of carbon Campagnolo rear derailleurs came out because they had one sitting on the counter so people could pick it up and see how light it was. They are also good at telling me when I can step down a level in components and get something that will suit me and my casual style just as well as the higher end stuff.

Plus, even if it has been several months between visits, they call me by name... just like the best web sites.