I'm in the position now where I have sent the validation company a complete spec of my stolen bike. I totalled this all up and I can buy current replacements for £2,200. I had the bike named on my insurance with a value of £2k, so I am hopeful that one of the following happens:
1) I get offered the cash (which they readily hinted may be the best option
2) The supply company source the components that I need to buy to replace the bike to a similar standard that was stolen (i.e. they purchase stock to the value of £2k but buy from the distributors at their trade discounts).
I am concerned though that I will be offered a smaller cash settlement.
They are currently investigating whether wheelies can source a suitable replacement - the answer is going to be "no they can't", and I have suggested that they not waste any time on the that process and let me tell them what I want to replace it with so we can begin talking about it.
It is just a waiting game at the moment - slightly frustrating for a mountain biker with one eye on the promising weather forecast that is on the horizon.