MaxPrime said:I'm in the same spot as you - grad student with pretty decent bike. I upgraded to a nice pair of shoes (SO worth it). I was told the first thing to upgrade are contact points - pedals, seat, shorts, wheels/tires. An $80 pair of shorts is going to be a lot better than 100g lighter wheels when you've been in the saddle for 4 hours.
My suggestion? Save it. Get yourself comfortable and riding centuries - ride, ride, ride. I buy myself stuff like shoes when I hit big mileage milestones.
Do bicycle shorts really make that much of a difference? I figured a comfortable saddle was better.