Thanks Lasse but I've talked myself into needing a £800 new bike with £100 to be spent on panniers and a good rack. Funny how you can use any old esxcuse to buy a new bright and shiny toy. My reasoning is that if I buy a good new bike I will go out on it more. The more it gets used the cheaper it will appear. Plus I can cancel my gym membership saving £45 per month which funny enough equates to a £920 bike bought through a cycle to work tax efficient scheme. Then after a run out to work at the weekend I have found out that it takes the same omount of time to cycle to work as drive. I like exercise so if I commute to work I save money. That means by buying a bike and gear up to £920 I will actually make money. How good it that? I'll be getting a good bike for free!
Anyway that is how I look at it. I know there must be some error in my logic but with my eyes closed I can't see it.
BTW anyone got a suggestion for a fast road bike that can take panniers and a rack and the associated weight that is drop handled with road gearing but still a good range of gears to get me up the hill when I'm loaded with about 15kg on the back wheel yet only costs £920 or less with rack, panniers, spd pedals and the shoes to use the spds? Perhaps a good lock too but if I just tidy my gear collection up I'm sure I still have that good u lock somewhere. Sometimes I think you can have too much gear, but then I wake up and it was just a nightmare.