I found the discussions on hand built (i.e. - small shop or single master builder) vs production steel frames really interesting. I especially liked Brian Baylis' comments regarding the fact that construction (production vs small shop) doesn't necessarily equate with an awesome ride. Some production frames ride fabulous, some don't. Same for master built. Interestingly, this is same in guitar world. A guitar made by a master luthier doesn't guarantee that it will sound or play better than a factory production equivalent.
What a master built frame (or guitar or whatever) usually guarantees is quality of craftsmanship. Sadly, as Brian noted, we don't usually get to see the frame maker's intricate details because the paintwork often hides it. At least with my master luthier built guitar I can see the impeccible miter joints in the binding work, etc, because the finish is clear.
So, to me, having a steel, lugged frame made by a master builder is not so much for getting ultimate ride quality as much as it is for having an example of the highest form of craftsmanship, and... dare I say it?... a piece of art.
Which brings me to my next topic - does a market exist for reissues of classic frames? Cinelli still makes the Super Corsa, but what if they made it in limited numbers, using old graphics/artwork, with choice of 120, 126 or 130mm rear dropout width and constructed by only select group of "master" builders at the factory. Same goes for other famous frames like the Peugeot PX-10, Gios Super Record, etc. Is the market too small for such a venture? If the factories are not interested, would a private master builder accept a custom order for a frame that was an exact DNA-matched clone to a 1972 Colnago Super?
Greg "I double dare you to pronounce it correctly" Gagliano Olathe, KS