"What looks like a blast? a 50 pound bike with flat pedals and a chainguard?"

Actually, I have a European city/working bike, A Norwegian-made Vello Kombi Spesial. It's very good at what it does, which is short trips around the neighbourhood and the like. Good for hauling a case of beer. Very upright riding position, generator lightset, coaster brake, kickstand, bell, chainguard, flat pedals. Not fast, but utilitarian and fun to ride. And a chick magnet to boot.