Just bought a tri bike
 

I just managed to snag a 2007 Specialized Transition E5 Comp for $600. This basically put me under my budget by like 400 and I'm wondering should I save up for wheels, or change other parts. The bike has 25 miles on it and is basically new.

Mavic Aksium wheels, Ultegra rear derailleur, 105 front, 105 brakes, profile design t2+ cobra.

I'm really excited to ride this bad boy. And unfortunately I haven't had the chance to take a picture yet.

Cheers!

Congrats on the purchase.

Parts like front derailleur, rear derailleur and brakes won't really have an impact on race speed so I'd skip upgrades there.

Theres an old list on bang for the buck speed improvements that goes something like this:
1. latex tubes
2. race tires
3. tight fitting race clothes
4. aero helmet
5. aero base bar
6. aero front wheel
7. aero rear wheel

So I'd say get some latex tubes and race tires, Bontrager R4 Aero in 22mm width isn't bad. Then look at aero helmet and race clothes. After that, start saving up for wheels maybe.

Second... Congrats... I LOVE riding my Tri... its my bike of choice (unless I am tackling massive hills).If I had 4 bills to blow (and needed them), I would get a couple of good shorts and jerseys, maybe a helmet... those are probably going to have the biggest drag effect. Next would proably be wheels, but I would probably wait until I could go deeper than 4 hundred... unless I stumbled on a deal in the classifieds.Does it have pedals? Many bikes wont include them... thats a hundred right off the top.Weight is secondary on a Tri, but dont forget about it...

I have a capo jersey that fits me really well. I also have a $120 capo bib. I love it. Also I already have pedals. SPD's with shoes. I think I'm just going to save up my money. I want to buy the top of the line wheels at around the 2500$ range that I can just keep reusing and bike swap.