I just finished building my Independent Fabrication Club Racer. The frame is steel and costs 1600$. With tubus racks front and back, but no panniers the whole package weighs a respectable 23 lbs. The main different between it and a racing bike is a slightly longer chainstay (42.5cm). I love it. I took thirty pounds of groceries home along with ten pounds of computer and work stuff yesterday and it was rock solid. I have it setup with a Sugino XD2 triple up front and an XTR cassette (12-34) in the back which gives me 18-107 gear inches, which is basically one gear shy of my road triple's top end.