Wow, its been a year and 2 months since I started this thread. Look where its gone! Well I've answered these questions all over again for myself, and after a little evolution, I believe I have come up with the perfect commuter (for ME) and here's where its at:

1988 Specialized Rock Hopper steel frame, with horizontal dropouts. Front wheel: Mavic 221 on Deore LX hub. Rear: Velocity Cliff Hanger on IRO fixed gear mtb hub. Ability to go from 48/17 (about 70 gear inches) down to 38/19 (about 50 gear inches) for winter. For night riding, a Cygolite Night Rover dual beam 12.5w system. 1.25" slicks @ 90psi. Cateye rear 5 led blinky.

To be added: Fenders, studded tires for winter.

Other than that its a great, reliable bike for around town, and I ride it everywhere I can.

And now, back to your regular programming.

No doubt this belongs in the "BF Hall of Fame" thread listing. :)