My belt-driven pride & joy is a 2010 Norco Ceres. While everyone seems surprised when I point out the belt drive, it's hardly a new technology, nor a flash-in-the-pan; there are currently 24 manufacturers using the Gates Carbon Belt Drive system on 90 different models. I chose mine after a solid year of research. Downsides to my particular belt-driven setup have so far included the sliding dropouts and the aluminum rear cog: The sliding dropouts make belt alignment finicky, and alignment is critical for effective use of the belt drive. Eccentric bottom brackets are a better design, but a bicycle's inherent tendency to flex under load (especially steel-framed ones like mine) make alignment an issue regardless of which setup is used to maintain belt tension. The aluminum rear cog failed on my bike due to the three tangs that interface with the Alfine hub being sheared off while hammering on the pedals. I had the cog replaced under warranty but you can imagine how disconcerting this failure was. Gates has addressed both issues with its redesign of its system; it now uses a "CenterTrack" design to maintain alignment and the rear cogs are machined from steel instead of aluminum:

http://www.bikerumor.com/2010/09/15/...rtrack-system/

Other than those two issues the bike has been everything I'd hoped it would be. I've never topped out the gearing on flats and the Alfine's granny gear lets me climb any local hills. The bike handles like it's on rails and is light, responsive, and very quick. Here's my baby... every mile is pure joy, and the low-maintenance belt-drive/IGH setup is a commuter's dream (well, for this commuter anyway):




And again, but naked this time