I've taken my inquiries about the "Ultimate Bike" a bit further, and thanks to ninevictor I have gotten in touch with a very responsive frame builder. I love the looks of the stainless steel frame and the idea that they would be very durable (as compared to a painted frame). After talking with the builder I probably won't consider SS for me though, mainly due to the statement that it is a stiffer material and probably not what I'm looking for in ride characteristics. Great for other purposes, but not for mine.
The suggestion was to go with Ti as it has the characteristics I'm interested in, along with the durability factor. I really like my CroMo Vaya and take great care of it so it is in perfect condition. However, I do fret about it a bit and would not like to get that first big scratch on it. In fact I don't ride it certain places that don't have safe places to sit it (because of the possibilty of it getting beat up against a metal sign for example). With the larger Schwalbe tires it does not fit into certain bike racks so I have to look for other options (until I get my kickstand!, but that's another thread unto itself
). It's not that I'd abuse a Ti frame, but I wouldn't worry about it quite as much.
One thing that it holding me back on going Ti (well, besides the cost) is my previous experience with a Litespeed Ti frame (road bike configuration). It was a beautiful bike, but it just didn't ride great in my opinion. This could have been due to the wheel selection or the tires or any combination of factors, but I attribute the ride to the Ti in my mind and therefore have some hesitation.
Can those of you that have Ti, or have ridden Ti chime in? Should I stick with an awesome build in steel? Maybe powder coat instead of paint?
I'm still looking at a IGH, belt drive, and discs though - love the looks and simplicity.