If there are not a lot of hills, and you keep up your momentum, that bike will race just fine.

Oh, and that purple bike? Sold to a guy with a $4000 Scott. He says "once you get it up to speed, it stays there." He's learned from his Ironman what his plastic fantastic (and it is really nice) bike can't teach: how to ride fast. Get it going, then keep it going, and on the downhills, a little weight and properly packed hubs will give you 3 lengths.