It totally depends on what you need to use it for.
Steel is a strong, but flexible metal. Aluminum does not have the give of steel so it has a different, stiffer ride quality.
"In general, aluminum frames are lighter than steel. The quality of the frame will ultimately determine weight. A well-built lightweight steel frame could weigh less than an inexpensive aluminum frame."
Read more:
http://www.livestrong.com/article/87...#ixzz1yCLN1Yph
Read also:
http://answers.yahoo.com/question/in...5121850AAqnMBj
"great majority of Roadies DO NOT judge a roadbike against steel!!! Steel bikes are the 'Model-T Fords' of the bike world, if anything people would use Titanium as a comparison, Or even a high end carbon bike."
Personally, I would NVER ride Aluminium on a fixie.... (I prefer chromoly...at the very least high tensile steel) I would go with the regal...looks more legit, cheaper, delivers and is giving a warranty...though I have never heard of it.