My Mercury isn't the lightest build, I could shave maybe 1.5 kg off it, lighter tyres and tubes (Which I'll probably do for the summer anyway)
I don't do Audax, but I have done a similar style of riding for "training" purposes.
If you intend to put lighter tyres and tubes on your Mercury anyway, I would advise doing that without spending money on any other modifications, then doing a few back-to back training rides to compare your Audax and your Mercury over the same circuit.
I did this kind of thing a few years ago for 2 separate reasons:
1 - to see whether fitting a Chainglider made any appreciable difference to efficiency. I was very sceptical about the way the Chainglider rubs on chain, sprocket and chainring. A few timed rides before and after fitting the Chainglider to my old utilty bike led me to conclude that it made no real difference, despite the sub-optimal setup (thick TA alloy chainring and 1/8" chain). Average speed for 4 x 25 kms without chainglider 24.0 kph, for 4 x 25 kms with chainglider 23.99 kph.
2 - to try and see whether a Rohloff would be significantly less efficient than a similar wide range derailleur system for loaded touring. To do this, I cleaned the wide range derailleur system on my old "heavy tourer" and did a few timed rides round my moderately hilly approx 50 km training loop. I then converted the bike to use a (new) Nexus 8 Premium hub gear (without changing anything else apart from the transmission, gear shifters and rear wheel) and repeated the test rides a few times.
My expectation before doing the rides was for the derailleur setup to be more efficient, but for 5 circuits with derailleur gears followed by 5 circuits with the hub gear I found no significant difference, average speed was very close to 24 kph for both setups.
After doing the tests, I flushed out the original grease from the Nexus 8 and lubricated it with synthetic gearbox oil. I have no figures to back this up, but I believe this improves the efficiency of the Nexus 8 Premium hub. Combined with running-in (gearboxes usually improve after a certain amount of use) I am reasonably convinced that there is no significant difference in efficiency between Nexus 8 Premium and wide range derailleur gears
for my type of riding over moderately hilly terrain.Caveat - I used a Shimano Nexus 8 Premium and not a Rohloff for my tests. It is possible that the Rohloff may be inherently less efficient than the Nexus, or (more probable IMO) it may require more "running in".
Round the same circuit, my best consistent performer was my lightweight 700C derailleur bike with supple Michelin Dynamic 28 mm tyres, and weighing several kg less than my "heavy tourer). Average speed for 26 circuits 25.19 kph. I used the lightweight 700C bike most as my aim was to get at least 2,000 kms of training before doing my Spain tour in 2011.
I did manage to beat this (for 1 circuit) using a cramped aerodynamic position (hands on the low part of the P-bars) on my hub geared Brompton, speed 25.89 kph. Not at all significant, and much less comfortable than using drop bars, but it reinforced my belief that aerodynamics and tyres (the Brompton had lightweight Kevlar-bead Kojak tyres) are the most important variables to play with if increased speed is the aim.
Before that, to liven up my daily commute in 2004 (22 kms each way at the time), I had already done some back-to-back tests comparing several different bikes and playing around with different tyres and handlebar configurations.
The 2 biggest factors I found that affected average speed were riding position (drop bars significantly faster than straight or roadster bars) and tyres (lightweight tyres with supple sidewalls significantly faster than tyres with thick sidewalls).
The only significant gearing conclusion I reached was that the Shimano Nexus 7 was significantly slower than the old Sturmey-Archer oil-lubricated S5-2 five speed hub gear. The Nexus 7 is reputed to be relatively inefficient compared to other hub gears. The Nexus 7 improved slightly after a bit of running in, and after I relubricated it with a low-viscosity grease.
Comparing two rather similar straight-bar bikes, one with derailleur gears and the other with a Sturmey-Archer oil-lubricated S5-2 five speed hub gear, the respective average speeds were 24.19 for the derailleur and 23.69 for the hub gear, which I didn't consider as significant (there were other minor differences between the two bikes).