Thanks, everyone, for the replies. Active forum! Aaron--the newer road bike is a carbon-forked Specialized Dolce Elite with SRAM Apex (I think it's thought of as entry-level for a good road bike), and the city is Chicago. Judging by the stolen bike registry, theft is common and organized. I do have a good Kryptonite u-lock and matching heavy (!!) chain for the front tire/frame/object, plus an older not-so-great u-lock for locking the rear tire to frame, and I do have homeowners's, and I know the odds are generally with me, but still. I hate that feeling of being inside somewhere, worrying about whether someone's going to angle-grind away my $$$ bike investment in a few short minutes. I worry less when my bike is no better, and ideally a little worse, than most of what's on the rack.

Ilikebikes--My old bike is, according the frame, a CityLite Technium City Sport, sort of a turquoise/seafoam color with little neo-classic triangles splashed here and there. Really '80s! From what I've read, the Technium was a fancy new frame (mostly aluminum?) for Raleigh for a while, and then it drifted into the more general market. Thus the upright, not-quite-mountain-or-road-ready "city bike" with the weird drum brake that is perhaps somewhat less effective than something simpler. I loved the bike when I bought it new in about '88 or '89, though I've long found it harsh at the seat--a big improvement over my childhood Schwinn 5-speed Suburban that got stolen. But after riding the Specialized, the Raleigh feels like I'm pedaling a U-haul truck, and I actually find it less comfortable. I can do it, but it's no longer love. Here's someone selling what looks to be the same model, http://chicago.craigslist.org/chc/bik/4147325276.html, though I don't think it sold with fenders (or racks). At some point I put a better Ritchey wheel (spousal spare) on the front of mine, and there have been new tires, but that's the only real improvement it's seen over 25 years. Even if I end up with an older road bike for easy street riding, I'd probably keep the old Raleigh as a short-haul utility bike. Even then, I'm realizing how nice it is to have handlebars no wider than my shoulders and am contemplating some modifications.

Italuminium--I don't think I'd have a hard time adjusting the older shifting systems (I had a lever on my very first 5-speed Schwinn, after all), though I think I want the shifters up in the neighborhood of the stem or handlebars. Have never dealt with downtube shifters, and around town, where traffic can be heavy, I tend to not be in the drops (and I assume that's the only position in which it's easy to use those low levers). Chicago is pretty flat, so not much need to shift for terrain, but sometimes the wind is vicious! I read that the Grand Prix was Raleigh's second-lowest-end road bike. I guess I'll have to ride some older bikes to see how I like them, and if ancient mid-range is plenty good enough for my purposes or not. I'm guessing there aren't a ton of old higher-end frames out there for people who are 5'3". I like the look and idea of the mixte, but it's not a requirement.

Whizzer--you get it! Oddjob--thanks for that bit of practical advice.

Anyway, I am going to a big bike thing tonight, which I've never done before, so I might have the opportunity to talk with people riding nice older road bikes.