I would doubt whether a new £300 ally bike with steel hi-ten forks will ride as nicely as a Reynolds framed racer from the 80s. Steel frames have a lovely spring over the bumps, even if they don't have all the tasty shifters etc.
Oh, and I own both steel and ally bikes, and a steel/Ti mixture, and a carbon MTB, so I've tried a few.
Oh, and I own both steel and ally bikes, and a steel/Ti mixture, and a carbon MTB, so I've tried a few.