The bike is an evolution of Cervelo's successful P3 and is said to have a 20% improvement in frame aerodynamics.
The frame set alone will retail for $4800.00. The most controversial design element of the bike is the built in water bottle which is located just above the main crank set. Some insiders are calling the location of the water brilliant as it servers as a faring to substantially reduce drag, but others see the new controversial design as a very impractical location for a water bottle for easy use.
You can read a thorough and comprehensive review of the new bike, along with a design analysis thanks to BikeSport in Michigan with many additional photos HERE.