I don't think I have swapped anything out on my bike for speed other than wheels and tires. After that it is just fit, weight, aerodynamics, and stiffness that will make your bike faster (plus training, of course). However, I have swapped things out because they look cooler and that usually translates to some weight savings. I have a problem buying bike stuff and what I have found is that other than wheels and tires you are almost better off buying a new bike if you want to upgrade. However, that said, I might do things in this order -

1. Surf eBay for things that might make my bike look cooler as well as be lighter and stiffer.
2. Get a bike fit
3. Buy carbon shoes and maybe new pedals
4. Get stiffer/lighter cranks and a lighter bottom bracket
5. Buy a P3C

If that pic in your profile is current, ou could def. use a professional fitting to get you more aero. None of your components are holding you back, and wheels are really the only thing that are gonna make you faster equipment-wise.

Look at a different aero bar like the Hed S bends or Profile T2's. Pair those with a proper fitting, youll pick up some time for sure. If it has to be one or the other, go with the fitting. Find a FIST certified dealer near you if possible.

Great input all. I'm schedule for a FIST fit in a couple of weeks as it is, and am considering whether or not a wheel upgrade (I race on Rolf Vigor's right now) is a prudent thing to do. I guess my main question was, aside from wheels and ignoring the engine, what components make the most sense to upgrade? And while any lost weight theoretically = more speed, like I said, those few seconds won't matter much to a guy like me. So I'm not just looking to go faster, but to have higher quality parts on my bike where it might be useful. I can probably assume that higher quality = lighter, so any speed gained is gravy. So the comment about the aero bars was a good one, and when I get fit, I'll explore that. Other than that, am I to assume that there's no appreciable difference between crank sets (or a guy like me), or drivetrain components, etc.? Thanks for all your advice!

Carbon seats are selling like hot cakes here in Switzeland.

Check out
wheelbuilder.com
for those discs

Not really, but the trend now is not to really go lower than 23.

You take conservative dumps. The DA/ Ultrega difference is more akin to a major leak than a dump.

The argument against upgrading to DA is diminishing returns on the investment. There practically isnt any return for the $$ you have to shell out. Ultrega is last years DA, and this rings especially true with the newer outboard bearing setups that havent been around long, so the trickle down effect is pretyt pronounced.

An Ultrega 10 setup wouldnt hold back even a pro triathlete.

I just bought a new, still-in-the box Transition Elite on Ebay for $900, and had it professionally fit and assembled at my local bike shop. Due to winter weather here in Salt Lake, I haven't ridden it yet but am excited to--it seems like a really sweet ride. How have you liked yours? I searched all over the Internet for a review before I bought it and couldn't find one, but I figured Specialized makes solid bikes and the Peter Reid input on the design couldn't hurt.

Plus it was a great deal--I couldn't find anything locally for under $1200 that had Ultegra components and an aero frame.

I'd be interested in your thoughts--I'll probably do mainly sprint tris with a couple of Olympic distance this summer.

Also, what kind of pedals do you use? The bike came with stock platform pedals, but the bike shop recommended Speedplay and it looks like I will probably put those on.

Here's my $0.02: It sounds like you've got yourself a pretty nice set of wheels already (Rolf Vigors), and your comonents are nothing to laugh at either. You've also got a fitting lined up, so I won't talk about that. If you are really looking to squeeze out some performance, look for a stiffer drivetrain. I think the Gossamer crankset you've got has the external bearings already, so upgrading to a better crankset probably won't give you much bang for your buck.

How about upgrading to a top notch chain? Think of all of the bearing surfaces on a chain, and a high quality chain can really reduce friction. Another source of friction is in the pedal bearings. Do you have top end pedals? And what about your bottom bracket? Maybe you could upgrade to a top of the line bottom bracket to get better bearings there too.

Other than that, I would turn to things that can make your bike more comfortable. It looks like your bike has a carbon fork and seatpost, so those should already help cut down on vibration. Are you happy with your seat? If not change it to one that is more comfortable. Are you happy with the base bar and aero bars? If not, get something that will be more comfortable or offer more hand positions/angles. If you are happy with them, what about rewrapping your aero bars and base bars with some better cork or gel padding that will help cut down on vibration?

Finally, if none of these sounds like great ideas, here's a crazy idea: Why not get a custom paint job for your bike? It won't make your bike faster, but knowing that your bike isn't like any other bikes out there could give you enough of a mental edge to make YOU faster.

Five words: Power Tap or Power Cranks.