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Most of us don't have the time, money, or inclination to buy a new computer every year or two to remain near the cutting edge of performance. The days when that edge was advancing by leaps and bounds every 18 months are behind us now, and it's a lot less frustrating to keep a computer for four or five years and still enjoy functional use. This follows similar trends in automotive ownership; cars are lasting longer, and with so many people feeling the financial pinch these days, upgrading your entire system is easy to put off until something goes really, really wrong and you need to replace components (or the whole thing).
