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Fixing the bike's gearset
My road bike has reliably turned its cranks smoothly for over two years with nary a service or an issue.
However, now the time has come that it's becoming a bit clunky with the shifting and the chain is probably well past its replacement date, and two stacks have led to getting the wheels a bit out of alignment. I'm sure the brakes could do with some TLC as well...
I now need to make the decision whether to replace the bike for another "training" model or to completely fix it myself in the near future. Does anyone have any idea how much it would cost (and what I'd most likely need to do), were I to order the components on Wiggle, to
- fix the gearing system with a new chain and front and rear cassette, and front derailleur (and possibly new cables and rear derailleur)
- fix the braking system (possibly replacing the pads)
- is it possible to true the wheel myself?
For anyone who has done a similar process
If it's too expensive/too much of a hassle, I think it's time to look at cheap 2nd hand road bikes (so let me know if you have one! 
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I just went through this myself.....
I needed a full drivetrain including derailleurs.
I bought a fairly cheap new bike - the clincher was that the old frame was way too big (got it free from a mate).
Cables are easy to change but you need quality cutters for the outer - I don't have them and call up BM_Epic on here for some help.
Cassettes and chains are cheap online and dead easy to change. Chainrings a bit more expensive - should get through 2 cassettes with a set though.
I just paid the LBS to true my mtb wheels among a few other bits and pieces. I trued a road wheel myself a few weeks ago and it seems fine?
Good luck.
Bike mechanicals are generally very simple and theres a plethora of books and information available and pretty much every possible part you need can be found on the interweb..
The key to keeping your cycling addiction something less than an embarrassing dinner conversation about how much you spent last year on "bike" is to learn how to fit the parts and always keep and eye open for your next next (yes next next even next) upgrade or consumable on the usual websites sales, I have bought things at ridiculous sale prices over the last few years.
Wiggle, JensonUSA, ChainReaction, Competitive Cyclist are the usual suspects.
Do you have the tools and a work stand to do this work yourself?
Chainrings; Do you know your bottom bracket type? Generally the rings can be more or the same of that you can find for a complete crank and chainrings on sale, but you need to know what BB you have and be prepared to buy it when you don’t actually need it yet.
Bearings; On the roadie I last wore out BB bearings and wheel bearings before chains and chainrings, so you probably should know what kind of bearings you have?
Chains; you should have one or two spare anyhow, same for cables, all can be found at up to 50% off RRP if you keep our eyes open and buy when they are on sale.
Derailleur; you need to know its type as theres a big range of possibilities here.
Wheels; this is an art form and something I'm reluctant to touch on my road wheels, the commuter went through a rear wheel in about 2 years and its then its an easy choice at about 100 bucks for a complete new wheel rather than mess with an old wheel. MTB wheels are different as they don’t have to be 100% true so its easy to simply use a spoke tension gauge and keep them correctly tensioned.
If your mechanically minded (you already know if you are or not) you should just roll up the sleeves and get into it, if your not mechanically minded then you should pass your bike to a professional as road bikes travel at speeds and in situations that can be very unsafe, the $50 bucks you saved fitting those brakes wont seem like such a bargain when they fail flying down MonaVale road at 80KPH.. Poorly fitted parts can be very very very dangerous.
Just changing the cables + housings often makes a large difference to shifting. Your LBS will sell you the length you need. Not expensive. (and your LBS will use proper cable housing cutters so as not to crimp it)
Also, a little teflon spray on moving parts of derailleurs helps too. I'd think that replacing the derailleurs themselves isn't necessary unless they're rusting over.
In regards to brake pads, cassettes, chainrings, & chain - do it yourself. YouTube + Park Tools Big Blue Book will teach you!
Hey @Tristania, if you're keen to have a go and do some of it yourself I'd expect it will be cheaper to replace the components. I've always done that, and enjoy understanding where my components are up to...and am continually learning more about what wears out and why. I'm not that far away from you either, so can help out with some tools etc if you're keen. If you're not interested in doing it yourself, and you start paying LBS prices for components and for labour, I'd expect it may be cheaper to get yourself something new...although maybe then you'd like to upgrade...and we all know where that gets us...!
Two years? Shiiiit. Thats not long at all.
I still use my 1998 race bike for indoor training. Only thing i've changed since then are tires and saddle. Chain and sprockets etc are all fine, albeit still the 6m junior gearing.
Fixing it is the obvious choice if it's a decent bike. You can throw good money after bad, but with the cost of shimano 105 components, it shouldn't cost much at all.
I've always said the Aus bike shop industry will have to move more towards a service than sales model, If you can't them yourself, call your LBS and get a quote.
As for truing wheels... thats a real grey area. There are very few people who can quickly true a wheel without a proper stand. You can try it, but given how true road wheels SHOULD be, you will likely spend loads of time getting really frustrated only to see minor improvements.
well to be truthful about it, i really should have said 2 years commuting/riding up to around 200k a week, rolling off/over gutters and over some average surfaces, chuck in a stack or two and the odd run in with a drain.. that's heaps of use in my books for a cheapo wheel set (fulcrum racing 5's).
chain, chainrings, cassette and bearings (1 set wheels and bb bearing at about 10k) go as I also do a lot of wet road rides that accelerate the wear, cables; 1 brake cable and 2 rear shifter cables, 3 or 4 sets of pads and a complete rear brake assembly (return spring snapped) as well as the rear shifter (probably got about 20k out of that).
I‘ll do the operation when I get the chance. Yeah I'm keen to fix it myself... just don't really have much time and don't want to be without a bike for a long period of time if I stuff it up. But as they say, you learn by your mistakea. It may not even need a new chain... I‘ll start looking at the shifting and see. As with the brakes.
Plenty of good advice above and pretty straight forward to complete the maintenance for the most of the issues you have mentioned.
If it a decent bike and running gear then it is really a leap to far to be thinking of replacement bike. Have a go at replacing the gear cables ( rear at least ) and check the chain for wear. Unless you have worn the chain to far, the cassette and chainrings should be fine.
Get the wheels trued and that will certainly help with pulsing brakes if that is the issue. Brake pads are easy to replace if they are worn.