Next bike or upgrade

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I currently have a Claud Butler Roubaix I bought in 2004. I bought it after a knee op to help strengthen the leg muscles. It cost £400 so is at the bottom end of the decent road bike range. Its done me proud for what I wanted which, was to go out for up to an hour but recently, I have taken up a challenge in Scotland so are cycling more often and longer distances. I am getting into this and have upgraded wheels to fulcrum 7 Racing, derailleur to Shimano integra and Sram chain. The bike feels better as a result.

Now that I am more into cycling, what do people suggest for improving the ride. Upgrading parts or should I invest in a better bike, what are the key things to look for? How important is the frame?

The reason for thinking this is that I often get passed by other riders on what look like better bikes....or are they just fitter, I get out 3 times a week maximum.
 
If you can, I'd buy a new bike but keep the CB as a trainer; one can never have too many bikes :whistle:
 
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