QUESTION: Is it better to take five pounds off your bike with a lighter frame and components, or lose five pounds of body weight?
COACH FRED: Good question! Reducing weight of any type makes the most difference on climbs. Everything else being equal, shedding five pounds can make you several minutes faster on a steady five-mile climb.
Weight reduction is a smaller factor when accelerating, and it matters least during flat riding once you're up to speed.
As for whether it's better to take the weight off your bike or your body, it doesn't make much difference -- with two caveats.
First, rotating weight on the bike (tires, rims, pedals, shoes) makes more difference than static weight on the frame. So, taking X amount off your wheels' outer diameter will help more than taking the same amount off the frame.
As for your body, losing a pound of flab is like losing a pound off the bike frame. But there's one important difference. Usually you need to increase your training to lose weight, which puts you in better shape. You get a double benefit -- less weight to pedal, and more finely tuned muscular and cardiovascular systems with which to do so.
It's also cheaper to shed unneeded body weight than to lighten your bike. We get a kick out of obviously overweight guys carrying on about the $160 carbon handlebar they just installed.
Warning! Be certain you need to lose weight before you go on a diet. Fat weight lost by putting in quality miles is good. Muscular weight lost with dangerous and restrictive diets is not good. Your muscle tissue is what propels you down (or up) the road -- no matter how much weight is involved.