In Reply To:
As usual, my experience is consistent with everyone but Record9's. Ultegra hubs, front derailleur, brakes, cranks, etc. will last indefinitely. Normal wear items are chains and bottom brackets. And after 5,000-10,000 miles you will probably need to replace the STI levers.
Okay, I will spend some more time here.
I have seen crank arms fail...violently and suddenly...during races. This in every instance was caused by a dent or deep scratch in the metal of the arm cycling under stress and cracking one day. I have seen Shimano, Campy, Mavic and Suntour crank arms that have been broken. Many Cook Brothers and Stonglight crank arms too (they are the highest majority IMO). This is not to mention that a crank arms hole (weather ISIS or square) is a press fit - and really can only come on and off a limited number of times before there is a gap between the BB spindle and crank interface. I have seen people way over tighten crank arms (for some reason with a 1/2" drive breaker bar) and press their crank right down the shaft of the spindle and into the BB shell. I myself try to have my cranks on and off the bike a minimum possible number of times.
I have never seen Ultegra (or most hubs) last that long with out yearly rebuilds. Once again we get onto the 1970 Olds...with wheels spin when the cones races look like 60 grit spand paper and the "ball" bearings resemble a dradle? Sure they will...torque is on your side. However, a yearly rebuild (normal care) will cost about $30.00 per hub. Add to that the cones and seals that you will need (and the shop may not be able to get)...and the fact that your wheels now have a crap load of miles on them - with alloy nipples snapping. How much are you going to spend to keep your trusty Ultegra hubs spinning? Most people think about a wheel upgrade. Now...you get to the rear wheel...you want to pay to rebuild that freehub body? It is cheaper to buy a new one.
F. Der...you got me on that one. I have not seen a F. Der wear out that was not older than I am.
I also at least every 2 years replace my stem, bars (it is AWFUL how over looked replacing your bars is!!!) They are a wear items and will fail. I have had a set of Cinelli bars shear at the stem during a sprint. I have seen other shear theirs...ANY deep scratch, hard crash, bend or creaking/flex is cause for a new bar!!!
Other things that should be replaced before they fail under you...carbon/carbon forks...Titanium Pedal axles (seen a few of those shear - mostly Speedplay)...and I get paranoid about Carbon Seat posts too...
Then again, I am a biker. I put in 15-20,000 miles a year. Every ride is a race, every "Stop Ahead" sign is a sprint. I want my bike to perform better than I can...and old worn out parts will not help me one bit.
Back to the Olds...so...will they "work"...yes....will they work "well"? Depends on what you consider working well to be...some people are giddy when their 1970's Olds coughs to life in the morning billowing smoke into the neighbors windows....others are not. Some people are happy just being on two wheels pedaling and can live with some clickety clack of the chain line...(I cant)...
Who here wants to race on Shimano Dura Ace 7 speed with Down tube shifters!!!! Lets GO!!!!!!
----------------------------------------------------------
What if the Hokey Pokey is what it is all about?