When I started cycling, I bought a pair of PI Slice Ultrasensor shorts at Performance. The store manager told me to watch for a sale on the Perfomance Ultra's, which he said were comparable. I bought the Ultra bibs and shorts last month (buy-one-get-one-half-price - bibs were $65, shorts $27.50... and then another 20% off the whole deal on a weekend-only sale)... and I agree with him, the Ultra's are very good quality (and easily worth more than I paid). I have never worn the Elite's, but the pad seems cheaper. By way of comparision, I have a pair of their cheap mtn bike shorts for commuting, and I really notice the step down in comfort.