Joined: Jul 2002
Posts: 40,863
Likes: 3,116
From: Sacramento, California, USA
Bikes: Specialized Tarmac, Canyon Exceed, Specialized Transition, Ellsworth Roots, Ridley Excalibur
There will always be some guy who's faster. And there will always be some guy with a nicer bike. These will not necessarily be the same guy.
Personally, I'm in favor of buying the best bike you can reasonably afford. If it's above your ability, it'll be a good incentive to "earn" it.