Here is a very informative link which will educate you about the differences
between real bicycles and discount store bicycles.
www.BikesRNotToys.com
Waterford, the premier frame builder using steel. This is the former Schwinn Paramount company, and they have decades of experience working in steel. Reynolds of England is still their tube supplier, and Henry James is making their investment cast lugs. If you want an unbelievable ride, get a Waterford.
Gunnar, These bikes are made of Reynolds 863 steel tubing. This tubing has the quality of getting stronger when it is air cooled. TIG welding does not weaken it, so you can make very strong bikes for less cost than a comparable frame made the old fashioned way with tubes brazed into lugs. This is a new venture for Waterford Bicycles, and a way for you to get a phenomenal bike for a reasonable price. See their web site by first going to Waterford's site.
Haro, A terrific line of BMX, Freestyle and Jumping bikes from the fertile minds of Southern California. These folks have been around as long as Freestyle and BMX racing have existed, and have been supporters of these sports for over 20 years.