Take on replacing my running shoes

As an avid runner who runs about 1700 miles per year, I know the importance of great running shoes but often confused as to when I should change them. All the data says they should be changed around 300-500 miles which is crazy when that means you could be replacing them in two months. I'm not sure what the right number is but I'm convinced the 300-500 number is just what Big Sneakers want us to believe which at $150 for a pair of sneakers is totally ludicrous.
So here is my rule of thumb. You run till you can feel the bounce in the shoe or the traction is worn out or you've stepped in dog shit that you can't get out. Whichever comes first.