as far as walking the dog i agree it looks gimicky!

I use a 10 ft lead with a slip end (think Dog Whisperer)

IMHO i need the lead to control him there are times I have to reel him in....

and there are times I need to show him the turn... the fun part has been teaching my 7 year old how to steer a French Bulldog... he can do it but the dog often has ideas of his own... Vinny's (the Frenchie) favourite is a midnight run... no lead nothing he just follows...

as far as the bike get what you want...

i think you have set your initial price TOO HIGH... get something cheaper so when you do get bit it doesnt cost another 3 grand to get road bikes...