I think what Retro Grouch needs is a magical-well in which resides an endless supply of decent frames upon which he can install his collection of good, but old, components - as he upgrades endlessly towards the Big Suck (opposite of the Big Bang).

Personally, I'm quite happy with the upgrades I've made with Ultegra-branded components on my Trek - which came with one's that are slightly under the '105' wire. Tiagra and Deore for instance. The frame warrants better than what Trek slapped on it to make a sale. But as soon as I build it some wheels using Mavic A719's w/Ultegra hubs and DT DB spokes - I'm done. It's a finish.

Perhaps I'll send Retro Grouch the old components and listen for the scream-in-the-night.