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Neil, Congrats on your second child. The plan for your Cannondale is a really good one. Ultegra is nice, but IMO 105 is just as good. Unless you are a pro, you would not notice. For about $35 you can get a 105 to perform better than the Ultegra---simply swap out the jockey wheels in your derailleur for ones with bearings. It is a very easy swap. After that the secret is to keep those wheels and chain really clean. Most of our Racer/Riders in our club are running 105. A few are running SRAM Rival (equivalent to 105 as is Campy Veloce). An afterthought: By changing the jockey wheels to light ones with bearings, you in effect, will have all the shifting smoothness of Dura-Ace at a fraction of the cost--just a bit heavier. The front derailleur is a wash. 105 is really no different than Ultegra and D-A in smoothness. Top it off with Jagwire cables and you have a "New" Cannondale and a second bike for lousy weather. Do write down the measurements for the C`dale and transfer the same measurements to your "other" bike. Be sure your new bike is the same size. I would also stop at every Yard Sale and Garage Sale if you see a bike. A friend found an older Specialized Allez with 105 Grouppo for $50. The Allez was a 52cm--entirely too small for him--but he got a good component set, stem, seatpost and saddle, handlebars, brakes, cables, and a nice set of wheels. He sold the 52cm frameset to a small woman for $50. I set the bike up for her--she got a Sora Grouppo on Ebay fairly cheap. She now has a nice bike at a fraction of what a new Allez would have cost.
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