I've struggled with this one for a while myself. The P3 definitely has the enhanced "coolness" factor. The bikes have the identical geometry (save a very minor difference in head tube height) so fit will be identical between the two. I don't think that the average rider will notice any real time benefit from the P3. Besides sex appeal, the P3 has the 10 sp DA, while the P2K has Ultegra 9. I think that a P2k with a Renn disk and a Hed3 will be as fast as anything else out there (you could throw on an Oval Concepts alu aero bar for good measure and still be cheaper than the P3). For me it came down to price/value. I could get a P2K and a Computrainer for essentially the same price as a P3- or alternately, my wife will approve the P2K expenditure long before she'll approve the P3 ;-) After seeing Gerard's and Tom's comments on the 2004 P2K, I've asked my wife to "name her price" so I can place my order ASAP.

I've been through this twice recently. Like I said in another thread, I'm sizing down from a 58cm to a 55. Each time I've weighed the value of upgrading to the P3. the differences are .5cm head tube height, the seat tube cutout, and the seatstays. Everything else is identical as far as I can tell. I've ridden both and don't notice any difference there.

With the 58cm purchase I decided I'd rather upgrade the components on the bike than get the P3 (fizik saddle, campy chorus). For the 55cm purchase I decided I'd rather save the money for the Zipp wheels. I don't want to poo-poo the aero advantage, that's what got me interested in cervelo in the first place, but the projected time savings on their site are pretty small, and I assume they don't take into account things like drinking from a water bottle during the race, or occassionally sitting up to stretch, so I try not to sweat the potential time savings too much.

besides the extra wow factor, I really think the more traditional triangle of the P2k is more attractive. anyone want to buy a slightly used 58cm p2k?