My experience with steel frames is that there's nothing steel can do that titanium can't do better. And Ti is whippy compared to carbon fiber. And carbon fiber bikes generally ride like giant condoms. Which is what makes combination frames - like the Cannondale Six13 - so successful.

That being said I just started riding my 1999 Jamis Dragon MTB again (Reynolds 853) after a five year layoff. REALLY liked it the first day back out in the woods. So check back with me in six months. I may change my tune...