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The performance issue between steel vs carbon will be in the weight department, in my opinion. If you are thinking of going custom, you may want to consider the Waterford route. Price would be similar to a custom Roadie with better finish option. Full carbon could come in under 15 depending on components while the steel would be 16+. The beauty of custom steel is having a bike that no one else in your group has. It becomes a piece of ridable art, rather than a cookie cutter bike. I know you can't go wrong with a steel bike, but true race would be carbon, due to weight.
I'm biased, owning two Waterfords and one Gunnar. I'd take them any day for comfort and ridability. But, every once in a while, I still think of going to the dark side and pick up a carbon ride.
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