The Arena is definately not the place for your average dungeon crawler. Most people that are serious about competition. They use all the latest gear, with the fastest speeds possible.
I only compete against myself, nobody else. I don't really use the arena much at all. Its like pitting a Fopwith Camel against an F16. I don't expect to outclass anybody at that rate, and it don't bother me none. I just like to see what they got.
I win a few, mostly I lose in the arena. But in the dungeon, I'm boss! I'm Mythic 3 all the way, Mostly only get killed when I'm interrupted, I have luck, fortune, and gold find like crazy. My current character, I call May Hemm. Cause thats what its like, crawling her through Mythic 3 dungeons.