What do you think about overly-worn belts?

My belt is looking really, really worn.  I've had it since January 2009 I think, and for a long stretch you'll remember I was training 28-29 days a month, often 2-3 times a day on weekdays.  I haven't washed it too often, maybe 5-6 times over the years, but the blue has faded to early morning-blue-grey, and the cover fabric has nearly all worn off (and the white inner contents are fraying into strings that dangle.)  And now that we're in the new facility, with morning and noon classes being added, I expect I'll get back into two- and three-a-days soon enough.

Obviously I couldn't compete in this belt.  I meant to take a picture but left my belt in the car so I'll add it later.

So, I'm thinking about buying a new belt.  Here's why:

1.  A good friend told me he's on his third brown belt, and he feels it's disrespectful to the belt to let it get too tattered.  (I've passed that stage, for sure.)

2.  Hate how a new belt won't stay tied, so I might as well get a new one and break it in a bit so I have a belt for competition.

3.  It makes me look like I should be promoted soon.  However, I feel the quality of my jiu jitsu belies such a perspective.  Plus, there isn't a single bluebelt at my academy I would feel comfortable being promoted ahead of.  As such, I'm happily going to be a blue belt for another two years or so.

What do you think?

And-- who makes a nice belt that doesn't start out all thick and stiff, but is pliable enough to stay tied from the start, and is a nice blue color?  (I had an Atama first, and the color was a little pale.)