David Anderson posted a nice movie notice about the "Hour" record. I've heard of the movie. David's backgrounder provides some insight, as well WikiPedia provides some more background on this epic challenge.
I grew up in the era of Eddy Merckx, on an orange Eddy Merckx road bike.
After many years of work and child raising, I've come back to cycling. This time on a Felt fire engine red F4C, carbon everything. But now it sadly only comes in Black.
The mechanical differences between the Flying Scotsman's machines and today's bikes are vast, with the related increases in distance traveled over the hour. Just from the experience of a steel frame with Campy running gear to all carbon with all Durace is night and day in terms of stability, handling in steep and fast descents, climbing response and overall rideability.
In the end though, like all tools, it's the guy at the controls that makes the difference. The "Possers" in our little corner of the world riding their $5,000 Italian frames that get dropped on the first pitch going to Ward are usually on the "theory" side of cycling. Possibly in the same way the "theory" of project management and the "practice" of project management are separated.