I've raced and time-trialed in my past. I rode with the club on training rides. And I had a short wheelbase racing frame for the job. I also had close ratio gears (bottom I think was 60", top 100" - derigour at the time!) and I thought I was fast-ish!! In the winter though the Sunday club run had to be with mudguards (if not you stayed at the back all day!) and commuting was on 68" fixed.
Roll on several years and that racing bike (and a carbon version too) weren't so fast. My power output will never rival my "glory" (sort of!!) days, and the hills of Devon are vicious. Fixed is an impossibility down the hills, let alone up! Racing gears, even with the luxury of 10 speed cassettes, are no way near low enough. No, a carbon race bike of any price would not solve the problems. Delightful it might be for ten or twenty minutes, but just too uncomfortable and too much walking on the steeper uphills! My enjoyment of cycling has changed. Ultimate speed is irrelevant; comfort and taking pleasure in the journey is the over-riding priority.
I still appreciate a bike that handles well and is well built, with quality components and modern features. I want to take pride in my ride and know that it's capable of long distances, when I am, without beating me up. Mudguards are not an accessory but an essential. Just like a saddlebag is always attached to carry waterproofs, food and an extra layer - oh and perhaps alternative shoes for walking around an historical monument or manor house. For all this my Audax is the perfect bike. And is faster than a carbon racer because it gets me there, and back with a smile on my tired face!
Just my take on things!
Nich