Nice writeup, Dan. I live vicariously through you on these things and always appreciate your thoughtful analysis. Also makes me want to finally dig out and put all my 'modern' (Ultegra 9-speed/Ksyrium wheels, etc) parts I've been picking up here and there onto some old steel frame.
Maybe I should finally say the hell with it and build my Merckx that way so I can stop *****ing about the terminal mediocrity of the C-Record stuff that's currently holding it back. Something's gotta give, there.