I'm not going to say anything about diet, since my metabolism behaves too differently to most of you, but I'll comment on bike suitability.
Over the last few years, I've done most of my cycling on a straight handlebared steel Kaffenback, which whilst not terribly heavy, certainly isn't light either.
When I cycle Red, which is a carbon framed bike with no mudguards or other excessively heavy junk, I can go significantly faster, but I doubt I could cycle that much further. I have knackered myself out, going faster than I would on the Kaffenback.