'Understatement' in the context you use it would seem to connote something positive, classic, which draws it power from its very quietude; the small black party dress or more appropriately, the black on black pinarello prince which is probably the best current example of successful 'understatement'. The current cervelo designs
can accurately be called minimalist but certainly not understated. For eg., the color breaks on the S1 are minimal and simple, but because of the particular colors and proportions, the overall visual impact is rather loud, not understated. Unfortunately, it is also boring and unbalanced. In the same way, that Cervelo prides itself in not offering up new models just for the sake of it, but only when they have designs and technologies which warrant a new model, so too should they stick with successful color breaks and graphics, until they come up with ones which are significant upgrades. This is certainly not the case for the 2008 - 2009 road bikes. Clearly, the visual look of their bike is not as important to them as their engineering. More power to them. In that case, they should accentuate that credo and go full bore toward the form follows function approach and completely away from bold colors and flashy graphics. Right now, they are somewhere in between, and really not successful at either.