TimB,
I don't know what your hang up is.
1. I never made any "steel is real" comment.
2. I merely pointed out that frame design has not changed, only materials and tubes have changed.
3. I also pointed out that a slightly lighter "modern" frame would not significantly improve the average riders performance in a measureable way.
4. I also agree that good, new frames are available at reasonable prices. But I disagree that one needs to buy one in order to keep out on the club ride.
There is a great tendency in many sports and hobbies for faning the flames by manufacturers and others that make a profit when people purchase new equipment. Competition is fierce to offer the 'latest,' 'lightest,' or 'fastest' new widget that "no serious rider" would be without. Sure a lot of the new stuff is nice and I use much of it, but most is totally unnecessary to enjoy cycling and to even be competative at the entry level. This has also fostered a certain amount of 'elitism' amongst some riders who look down upon the poor wretch that shows up on the line without the latest boutique wheelset, or 10 speed cogset.
Back to the original posted question: does a 20 year old steel frameset hold back a rider? Assuming it's a quality butted frameset then the answer is obviously "No." If you don't believe me, then consider what difference a 3 lb weight difference would mean. A typical 175 lb rider on a 23 lb bike weighs a total of 198 lbs. Put the same rider on a "modern" 20 lb bike, the total is 195 lbs. That's a 1.5% difference. That is insignificant. If this same rider were getting dropped at 198, he'll still get dropped at 195. Now if he looses 20 lbs off the engine, he'll kick butt on either bike.
And please don't come back with that tired arguement about frame flex. A metallic frame is a near perfect spring and any energy put into flexing the frame comes back out with very little damping. As a mechical engineer you should know that. That's why cars have shock absorbers (dampers)--otherwise they would bounce continuously.
Dave
who is disgusted with all the hype that "you gotta have the latest or you aint sh_t"--it's the legs, not the bike or the mouth.