Well, I have two steel frames and one ti. I like them all, but each bike is so different from the others in such substantial ways that I can't attribute their ride qualities solely to the frames.
I will say this much: I rode a Roubaix Pro and a Roubaix, each on the same 8-mile loop on the same day. These bikes have the same geometry, the same wheels and tires, the same carbon fork. The Pro had a steel frame and a double, while the Roubaix had an aluminum frame and a triple. Those were the only differences.
Based on this ride, I believe the people who say frame material doesn't matter are full of it. These bikes were *different.* The best way I can characterize it is that I was rarely aware of the steel frame; it was me, the bars, the pedals, the saddle, the road.
The aluminum frame kept making its presence known. It would kick more on bumps than you'd expect; it would push back when standing and grinding on a climb.
I didn't like it. That's why I ended up with a Roubaix Pro and swapping in a triple.
RichC
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Training: 2002 Fuji Roubaix Pro (105 triple)
Commuting/Daytripping: 2001 Airborne Carpe Diem (Ultegra/XTR, touring wheels)
Commuting/Touring: 2000 Novara Randonee (Sora/Tiagra/LX, fenders, lights)