Catrin, why are you considering this bike? Is it to get a more "road bike" type of bike?
I have the Coda Femme. It's my second bike. I have hardly ridden it this year, for no particular reason. It's smooth as butter, in terms of handling, but it is *heavy.* I have one pannier on it, with just a Road Morph pump and tire levers inside. When I have gone shopping with the pannier full, it's really heavy.
This bike is billed as a flat bar road bike, but to me, it feels nothing like my real road bike. It feels like a heavy cruiser to me! A heavy cruiser that handles well. I know my idea of what's heavy or not is skewed from having a carbon 14.7 lb. road bike, but I cannot get above an average 12.5 on my Coda. Yes, I live in a hilly area and I am small, but this is a considerable difference from my average on my road bike (like about 2-3 mph or more). I didn't use this bike to commute when I was teaching, because it would have taken me at least 15 minutes longer. This is despite the fact, it would have been easier to commute with a pannier.
I guess I am wondering how the Coda Elite is going to be different than what you already have? I know you are set on steel, but you have considered the Specialized Vita? It's an aluminum flat bar road bike that is light. My friend has one and she loves it. Maybe the components are too crappy for you, though. Just a thought.