At the base material level the primary difference, other than magnetics, is the elastic modulus and weight density. Steel elastic modulus and weight density are both roughly 2X higher than those of Ti. The modulus difference can be easily made up by increasing the tube wall thickness which adds some of the weight back. The steel version will still be slightly heavier for the same strength and stiffness. All said and done I believe for most riders the only difference they might notice is the difference in their wallet
Personally, and at the risk of reflaming some prior debates, I'm a carbon/epoxy matrix rider