I don't consider myself a serious cyclist, but I have over the last couple of years become a passionate cyclist. Firstly, it was the thing that enabled me to drop 17kg to my ideal weight of 73kg and now its the thing that allows me to keep it there. But its also something I really enjoy and gives me a whole load of energy in other things that I've not had for many years. In winter I probably ride about 3 times a week (35 miles total), but during the summer I'm probably averaging closer to 80 miles per week and that's not because I have to (the weight is now firmly under control), but its because I want to. The reason I held off getting a new bike so long was because I really enjoy my old bike; I don't mind if it gets scratched and I don't get paranoid about it getting stolen. My workhorse will still continue to be be my old bike, but the new bike will be the special one that gives me the additional buzz (of course I shall also be using it to make the obligatory commutes to work). I think you're right though, I wont get the full benefits of a £1000 bike, but it will make me feel good. Also, the Cycle Plus scheme will enable me to get a great looking £1000 bike for about £600 and that alone will make me feel good before I even get on it.