It's quality stuff at a very fair price. A friend worked for them for some years, enjoyed it. As others have said they keep overheads low and don't invest heavily in innovation etc, so they can build bikes of good quality without having to be on the bleeding edge of technology. I have a PX carbon fork on my road bike to replace one destroyed in an accident, it was inexpensive and better than the old one that came off. I suspect their business model is a bit like the Aldi/Lidl model, they don't have armies of marketing, customer service, technical development people, so to an extent they ride in on the coattails of others. Aldi don't spend a vast amount of time debating exactly what he customer wants from a meat pie, they just approach manufacturers and say "this is what we want, and we want it dirt cheap". Someone will supply. Will it be the best meat pie in the world? Probably not, but it will be more than good enough, and half the price of those in Waitrose. I know this story at first hand, I've manufactured the pies for Aldi.
Back on PX, their titanium frames are designed by Ridley, or by a chap who designed for Ridley. This is what makes them very good. Do they have the very finest polish to the welds, or the most expensive paint job? Maybe not, but the basics are all there.
