If you guys solve the "Does five pounds matter?" issue that has vexed cycling for a century, could you move on to the "What is the correct amount to spend on education?" question that continues to plague the country.

Personally, I suspect that the answer is you're all right. Bacci's got the power and energy calculation down, and in an absolute sense, it doesn't add up to a lot. I once calculated that over a particular 50 mile hillyish route marginal weight would cost a solo rider of about my ability ~30 seconds per pound. Invisiblehand et. al. have the wa of the group ride down. If you are at the limit of your ability, that few extra joules required to stay in the pack can make all the difference. That has certainly lead to the equipment "arms race" you can see at the beginning of just about any club ride.

To each his own. Personally I've given up on the weight arms race in favor of comfort items. Fenders, a big seat bag to carry food and maybe gloves and a jacket. I'm finding that overall I'm happier with rides where I remember more of the scenery than the wheel in front of me!

Speedo