7900 is coming out this fall. The design is a whole new concept. Have you thought of it?

Besides Ultegra SL is probably a better choice than Ultegra. The colour is nicer and weight is lighter. Prices are not that much different.

I faced the same question last year when purchasing my Cervelo P2C and opted for the 700 savings and the Ultegra package. While I have no idea if this was the right move in the long run, I have no regrests yet. Everyone I talked to suggested that the Ultegra package is just as good for most riders, unless you put thousands of miles on the bike each season.

I just got a new Hed Jet wheelset and the $ 700 savings did cover almost half the cost.

I personally have Ultegra and am happy with it...I'm sure if I were to upgrade I'd see a difference and wouldn't be able to go back, but that's the nature of escalation. I've heard there isn't much difference as well, so would save the $700 and probably put it toward a powermeter...but that's just me...I guess I'm of the camp that training better/smarter/harder gets you farther than "bought speed" like weight reductions/aero upgrades/etc...I obviously focus on aero from a positioning standpoint...but will worry more about aero components when I feel like that is what's holding me back instead of my 3-5% excess body fat and desire to enjoy a delicious beer or fried food more than I should

it is a big debate, but the answer is quite simple.
If you are a gram counter who HAS to have the very best then by all means you will be pleased with dura ace. However, from your original post it seems that you will not be buying aero wheels if you go with dura ace. I would say your answer is to go with ultegra. Sure it is slightly heavier but Ultegra is a great product and you will benefit more from spending the savings on aero helmet and wheels than stock wheels and dura ace.
To give you an idea, I ride two bikes and I am one of those people that puts thousands of miles on a year. My tri bike has Ultegra 10 and I it. My road bike has The Campy equivalant(sp?). Would I rather have the best? Of course but for me it is not worth the extra cost.

Just my $.02

Dura-Ace is lighter. It has more metal parts and bearings than Ultegra, so it will technically last longer, but I'm sure that most people aren't riding their bikes until the rear derailleur falls apart. I would be surprised if you could notice a difference in shifting between the two. The main difference is durability (hence the name dura-ace) and weight.

Read this [url=http://www.bikesportmichigan.com/features/dura-ace-ultegra.shtml]Ultegra v Dura Ace[/url] article. Its pretty informative, as is everything on the Bike Sport Michigan website

I went from a bike w/ ultegra to a bike w/ Dura-ace, it's like getting a new pair of sunglasses or something that looks fancy that people envy. It won't make you any better, and like ChunkyB said in the long run D/A might be better but who rides the same bike for 10yrs? I'd say save the 700 bux and put it towards something that will make an aerodynamic difference, or buy some groceries.

Ultegra + 1 Disk > Dura Ace + 0 Disk.

[quote=jhudalla] or buy some groceries.[/quote]

+1,000

I have all ultegra on my roady and I have all dura on my Tri bike, IMO there is not a big enough (if any) difference to justify the price difference. If I could do it over again, I would just get all ultegra and spend the extra money elsewhere.