The new bike is coming one way or the other.

Ideally, I would like something like a Raleigh Port Townsend: steel frame, full fenders, and racks for my panniers.
Pragmatically though, I'm waiting to see what REI will do. It sounds like they will try to replace the frame if possible, but since it's an old model, they may be willing to give me a steel frame and fit my old components on to it. Another possibility, is that they will just give me store credit for the original price of the bike, and then I can buy one of their bikes. They've got Raleigh, but I'm looking at the Novara Randonee as well.