One thing I like about steel (other than the wonderful ride) is that it is repairable, customizable, etc. You want another bottle cage, you have a crash and need a fix, you're tired of the color and you want it re-powdered? Voila! Done!

I have never ridden an all carbon frame, but hubby who has a steel bike and a carbon bike says the carbon has a nice ride but feels "numb" compared to steel. It doesn't have the liveliness of steel. He feels a bit disconnected from the road on the carbon. When we go on long rides or rough roads, he takes the steel.

Me? I have 1980's old-school lugged steel Mercian which cannot really be compared with today's steel frames (though she ain't bad!). But I can compare a modern day steel cross Kelly Knobby X and a Litespeed Tuscany Ti road frame. The Kelly has an incredible feel, light, lively, quick and painted in my choice color. The new steel tubing and the frame/fork geometry makes it a real lightweight winner.

For the price of a nice custom or semi-custom steel frame, you'd have a superb one of a kind bike (go Waterford, Rivendell, Kelly, you name it). There is a plethora of fine American builders.

One last thought: these materials all behave differently under different weight loads. Carbon and Alu can be stiff and harsh under a lightweight rider unless you have just the right tubing and frame design. Before you buy a frame from one of these, try to talk to riders of a similar weight to see what they think.