What do any of you recommend for a bicycle upgrade?

I'm not sure what you are trying to accomplish. I don't know what your $1000 of upgrades consists of, but I'd be very surprised if you could spend your way out of a 2:49 50k. (I.e., I'm with John M when he says upgrade your fitness level.)

Your Miyata probably weighs about 30 pounds. A new bike would be lighter, but even if you bought a 20 lb bike, the "you + bike" combination would only drop from 250 lb to 240 lb.

You say your Miyata rides great. Unless you're racing, I think that's the most important thing, so personally, I'd upgrade. Here's what I'd do (because it's essentially what I did to my old bike) :

I assume you have a 6-speed freewheel. You can probably make an 8-9-10 speed freehub fit, as they're only 4mm wider, and steel has some elasticity. I'd get one laced to a 27" rim, and put an 8-speed cassette on it. That way you can still use your current chainrings, front derailleur, and maybe rear derailleur. I'd replace the downtube shifters with bar end levers (you'll need to buy a clamp-on cable stop).

And that's it. You'll have your same great-riding bike, with a bit of a performance and convenience improvement. You won't win any races with it, but it will be uniquely yours, with a lot more character than anything you could buy from bikesdirect.

Edit: Actually, now that I've read the Miyata entry on Wikipedia, I'd definitely upgrade. But your priorities may not match mine.

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Even later edit: I've been thinking, and "upgrade" is kind of vague. Whether or not you should buy a whole new bike really depends on what you're trying to accomplish. If you just want to be faster, your fitness level matters a lot more than the bike you're riding. If for some reason you have your heart set on nothing less than a 10-speed drive train and integrated shifting, then by all means, just get a new bike. I upgraded from a freewheel to a cassette because I wanted to customize my cogset, and I could no longer get the sprockets I wanted for a freewheel. There was no need for me to buy a whole new bike just for that--I got a new rear wheel and rode away happy.

So maybe the real answer to your question is "it depends".

Upgrade your fitness level by riding more. Buy a new bike and get at least 24 speeds and sti shifters. If you can assemble a bike try this place.

http://www.bikesdirect.com/products/road_bikes.htm

Edit:

Upgrade to this for $1,000 I did and it's a great bike. The external bearing cranks are sold, carbon forks smooth the ride and the Ultrega components work like a fine watch.

It's the exact same frame the Giant Defy uses, they run large for their size.

http://www.bikesdirect.com/products/gravity/pro30_...

Miyata 312 Road Bike

your bike isn;t holding you back

it;s your weight and fitness level

just keep riding

a lighter newer bike isn;t going to make over .1mph difference

neither is ''upgrading'' [even worse than getting a new one]

wle

Bicycles have vastly improved since 1987. One test ride on a new, more modern road bike, will convince you to retire the old one. Trying to upgrade a bike that old is like flushing money down the toilet. Sorry.

Also, buying now with intentions of upgrading later is a bad idea. So get the best bike you can afford from the start. But don't go overboard either. For the recreational cyclist, you don't NEED to spend $3,000 - $4,000 on a road bike. Basic entry level road bikes start around $675 - $700.

http://www.fujibikes.com/bike/details/sportif-25

http://www.giant-bicycles.com/en-us/bikes/model/de...

Carbon fiber forks will run a bit more.

http://www.fujibikes.com/bike/details/sportif-23-c

http://www.giant-bicycles.com/en-us/bikes/model/de...