Well, not really, there are strict limits into how much improvement you gain by spending money on equipment, there is a sweat spot on equipment investment, I think right now it's around $1000, beyond that you double the cost for half the improvement. Real speed improvements are like race cars, they are done to the engine.

What you need for real speed are several things:

1) Proper fit, even a $1,000,000 bicycle that doesn't fit, is going to yield poor performance.
2) Proper fuel, if you think the 4 food groups are Beer, Pizza, Coffee and Doughnuts then, even with a $1,000,000 bicycle, your going to get poor performance.
3) Proper training, if your technique is improper, then your performance is going to suck, even with a $1,000,000 bicycle, your also likely to get more injuries.

Best thing is, $1000 for a bicycle, a $200 fitting, and $400 each to the nutritionist and a former drill sergeant named coach, will yield better performance and more speed for $2000, then spending $10,000 on a bicycle.