My favorite quote on the development (or lack thereof) in bicycle technology came from the introduction to Tony Hadland's book on spaceframe Moultons. It was something to the effect that if automotive technology had followed the same path as have bicycles, we'd all be driving titanium-framed Model Ts with carbon-fiber handcranks.
This is one of may reasons why the vast majority of "modern" bikes impress me not.
FWIW.
Chris Beyer
Bloomfield, NJ