I really don't have any intention of racing, in my mind I just consider Cat 3 riders way, way out of my league. I assumed anyone who rides that well/fast must train FAR more than me. But that could be it right there - 8-10 hours of training vs. 8-10 hours of riding for fun. Shoot, I rode with a guy this summer and he was a pretty good rider and raced as well. Should have asked him what level he was at.
I'd say I have a pretty decent aerobic base (years of sports with lots of running) but cycling is definitely its own beast. And, I have noticed in my short time of dedicated riding that I can continually go further and faster. I just generally ride alone and don't chart stats beyond time/miles, so really have no way of comparing myself to other riders.
I guess I need to pay a visit to one of the esteemed forum members who rides Cat 3 so I can see where I stand

Thanks for the information, UMD.