The rider makes up between 70 - 80 % of the drag depending on who you believe.
I have two classic steel bikes, a Serotta Colorado and a Colnago Master, both I loved to death. Neither however are considered very aerodynamic.
Does it matter? Sure on the margin it does for pros but whether it matters to me is debatable.
After a fast 36 mile ride around Central Park in NYC yesterday I discovered something. It was hot and the loop was empty, so it was pretty fast with a few friends and some 25 year olds riding the latest and greatest.
My friend shows up with a brand new Trek Domane SL6 in total black, which I rode after we were done. That is a not a pure aero bike but has a lot of thing the Madone has.
I was so happy on that bike I did another 12 miles with the biggest grin.
So yesterday it mattered.....