I ride a Ti Airborne Zeppelin and love it, but I really don't have a favorite frame material. I'm 5'7" so I don't have any issues with needing a small-sized frame, and was able to test ride stock bikes. I test rode steel (LeMond) and carbon (Trek) bikes before deciding on the Airborne. The next bike I buy could be any material - I'm particularly fond of lugged carbon right now...

Sheldon Brown, as usual, has a good brief summary of frame materials.