The term "fred" used to be associated with touring cyclists (c.f. the old 
phreds mailing list), and was sometimes expanded to Fenders and Racks Every 
Day. Some time in the last decade there was a sense inversion, and the name 
started getting hung on kitted carbon riders (with the implication that their 
gear is faster than their skill); I associate that shift with the Bike Snob, 
but only because that's where I first encontered it. 

Seems to me the old usage was actually embraced as a positive identity by many 
of those it described, while the newer usage is merely derogatory.

rod

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