I would, and did.
Yes, it is heavier than a carbon / epoxy bike. At a 59 TT with cages and computer mount, it weighs about 20 lbs; call it 19, and could get it down with lighter wheels if I cared.
I've lightened the engine by about 40lbs in the last year. That makes me a lot faster. And I just love the way steel rides -- especially columbus. I also love the old school looks of lugs, combined with modern drivetrain. And I love being able to ride long distances with zero pain.