If you take the bus home because of bad weather one day, and leave your bike at work, it's there for you to go meet a client the next day! :P No but seriously.

If you take the bus home because of bad weather one day, and leave your bike at work, it's there for you to go meet a client the next day! :P No but seriously. Sounds like your transit agency doesn't have bike racks on the buses. That's what enables the integration with transit. Around my area you can take a bike on the bus or light rail. All the other problems have pre-existing solutions though too: Groceries to carry → Get panniers, and don't buy more than they can hold (you can always get more tomorrow, and it'll be fresher). Rain → Wear rain gear. Bad part of town → Own a modest bike and a good lock. The extreme mode flexibility you mention sounds nice, but I've never found I've needed it. With a little advance planning and the extra bits above, you can just commit to one mode.