Jackie Treehorn, I have seen your bike on campus.

If you go steel, put framesaver inside your frame and get your frame powdercoated. A powdercoat won't prevent rust, but it'll slow it down. Oh, and when that thin layer of PC chips off from rocks, you're screwed. If you want a "raw" steel frame (e.g. with a clear powdercoat) to look perfect forever, you're dreaming. I got my frame PCed over spring break and it's already forming scattered rust spots.

BTW, it'll take a long time for a "rusty" frame to fail. Most rust that occurs remains superficial for a long time. If 15L diesel engine blocks don't care about surface rust, you don't have to either.

Also, don't leave a steel frame parked in the rain for extended periods of time. Get a new lease.

I actually wouldn't leave any decent frame, regardless of material, outside for an extended period of time because someone will steal it. GF's Kilo got stolen when it was 2 weeks young after an hour. If you're going to leave it outside, stick with your crap frame until it snaps in half in the middle of Green Street traffic.

Also, you're welcome to join our (couple of my friends) corn field rides when we all get back to school in the fall.