My snow machine is my old hybrid. We had switched over to road bikes and stopped using the hybrids. They were collecting dust. I took it to a Park Tool weekend course, overhauled, got it working again, and then bought the studded snow tires for it. DH's hybrid soon followed.

So, ignoring the cost of the class, I spent about $100 on tires and parts (oh, the poor thing had been abused).

I don't use fenders on the snow machine because when I used by 3-season bike (Surly pacer with fenders and 700x28 tires) in light snow, the snow would gum up between the tires and fender. So I've intentionally not put fenders on the bike. Besides there is something about kicking up the rooster tail of snow that adds to the fun.

For me, I can tolerate the straight bars on the snow machine. When we're riding them, we're not going for a long distance and I like the extra control they give me over drops. But, I only have a little bit of wrist issues.

Gearing-wise, yeah the drive train gets gummy. But, after riding in the snow, I bring it in, shake off the snow and give it a (wrenches, please don't yell at me) a really good spray down with WD-40 and after it dries a quick pass with chain oil (heavy stuff).

Because my 3-season takes a lot of salt abuse, I had it built up without a front derailleur--one less part that I have to replace every couple of years. I have a big 34-tooth platter in the back and a 39 up-front. That would not be low enough for snow, though.

Here's the bike to dream about, tho...

http://surlybikes.com/bikes/pugsley_complete/