My PC isn't a hot rod, per se. But, I do try to keep things semi-current: AMD XP1600 CPU, 60 GB H.D., Ti4200 video, 512 MB of Crucial ram, Philips Seismic Edge sound card, etc.
However, on labor day, we were over at a friend's house. The friend has an old Gateway box (233 MHz) with the assumed parts: 32 or 64 MB of RAM, small hard drive, 15" monitor (that I gave him) and AOL. All-in-all, he probably only has $150 invested in this box which is what he paid for it about 3 years ago. When we were leaving the place, my 8-year-old daughter asked me why our computer was so fast compared to theirs. My wife and I had to tell her that it's because I open the case about every 3 months and do a mini-upgrade to keep pace with the times. I don't need the fastest computer available. Then again, I don't want to have the slowest one, either.