Granted some of the frame out at the moment don't really seem to offer huge savings in weight over there metallic alloy counterparts. However when a basic carbon fibre composite is compared directly to a standard steel the gains in specific strength (strength / weight) is over ten fold.
From:
Web Link
A table bellow this graph seems to suggest that the carbon fibre materials being used for cycles at the moment are not particularly advanced when compaired to the state of the art from carbon composites research.
Carbon fibre composites have only really been around since the 1970s, compare this to the discovery of steel alloys in the 11 century, and aluminium which was discovered 1808 (electrolysis of aluminium developed in 1886). The fact that after 40 years of use it is already lower weight for specific applications such as a bike frame is quite amazing.
This short development period and the large range of properties, composition, and weave parameters that can be changed inevitably lead to high research costs, which have to be recovered from the end user.
I still think the visual appearance of some of the time trial bikes are quite something to behold, and in themselves an accidental work of art. By accidental I mean that the design is not pure aesthetics, the structure is designed for purpose, which results in a structural beauty.
Unfortunately currently there is not a mass market for carbon bikes at anything other than top level, and from those with deep pockets. This leads to the research cost is being bared by a few customers. To create a light weight high performance carbon composite structure is in itself a costly venture, and those persuing the material just want as light as possible, with best performance. Durability would be wasted R&D money for them. Add to this that UCI regs have a specified minimum bike weight for there competitions, so reducing the need to reduce weight as far as possible. Again doing so beyond current levels would be a waste of R&D money.
All that said I would be very careful if I where to chose a carbon frame at the moment as I need a frame I don't have to replace every year. So with this in mind I guess I will also be waiting before buying one, but I'd still love to be able to afford own one and experience it for myself. I don't think we'll be waiting long to loose the durability issues, in a similar way to how aluminum alloys have largely lost theirs. As I mentioned in my last post, if there where worries about fatigue performance they would not be used in a vehicle that has large temperature cycles, and is subjected to the shock of landings and turbulence.