3speed, I seriously doubt you could tell the difference between that small steel frame and a properly sized aluminum frame.
I've used my '98 Trek 7000ZX for road training rides w/65 PSI and off road w/45 PSI... works fine. Then again my road bikes are all Cannondales!
Brad
PS I did replace the front fork on the Trek, but not to a lock out type for a huge difference in handling. If the fork is properly adjusted with correctly selected springs there should be no need for a lockout, IMHO.