Originally Posted by
revchuck
It's harder to make a steel bike that's stiff in the right places, compliant in the right places, and lightweight enough to race. Steel makes a wonderful non-race, "endurance" style frame that weighs a pound or two more than carbon or aluminum, and this is where the market for steel is.
This sums it it well. Steel is a good choice for an entry level or an endurance bike. If you want performance, it's best to look for something else. A high end steel frame gets close to 2 lbs over CF and still lacks the overall performance.