one of the five bikes i rotate on a daily basis is a TT bike with a steep seat tube. i can't say i notice much difference between it and a 79 trek 710 touring frame, a 85 trek sport touring frame and a new carbon fiber road frame. i've set them up as close to identical a practicable so it doesn't surprise me.
did i mention i did a 12,000 mile tour on this bike, loaded? (lightly)