If memory serves me correctly, in the Lemond geometry, they measure the seat tube differently and their 57 is the equivalent top tube to the 58 bikes of other brands.
I have personal experience of changing the straight bars on a Trek 5700fx hybrid to drop road bars and changing to Sora shifters for the 8 speed rear. It rides great with wide tires (700x35) and works fine for roads, "light" off roads and rails to trails rides, but lacks the speed and ride of a true road bike.
I purchased a 2005 Specialized Allez 4 weeks ago for $499 and truly love it. It has the more relaxed, upright geometry like the Pilot and 7500fx to reduce neck stress. The lighter weight and shorter wheel base make it much more responsive. The 700x23 tires are road only, though.
Hope this helps some.