Steel is real
There are countless diehard steel fans here on TE
Although I do not have a steel bike, many people like it but the frame material depends on what your preferences are. Likewise, I have also never ridden carbon but I've also heard great things.
It is my impression that if you very much dislike road vibrations, that carbon is the way to go. If you like to maintain some of the feel of the road, you might want to look into steel bikes 
The best way to determine whether or not you would like steel is to try out a steel bike (high-end)
Maybe your shop would have a high-end steel bike (Waterford, Gunnar, Serotta, Seven, Independent Fabrication) to test ride.
Please keep in mind that the Rival components on the Madone are SRAM, while the 105 is Shimano so it would be a matter of your preference. Some people like the "double tap" of SRAM but I have a friend who has it on her bike and it seems confusing to me
I need something where I can shift intuitively in case of unexpected events 
Go with what feels best and whichever fits you best. You can't beat custom, though
Last edited by Ana; 08-08-2009 at 05:37 AM.
Ana
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2009 Lynskey R230
Trek Mountain Track 850