I've got a celeste '97 Trofeo with lower-end Campy eight speed and a lugged frame. It's gotten more compliments than my gorgeous carbon Look 585. I rode it yesterday in a 75 mile charity ride and had little problem keeping up with the younger folks on carbon bikes. They thought it was cool.

A good steel frame, 32 spoke wheels and 700x25 tires take almost all the pain out of bad roads.
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Regards,
Chuck
Demain, on roule!