Re: Frame
How about magnesium?
One of my mates races a couple of old RG 500s the engines are almost pure magnesium, not difficult to pick up single handed so very light but a total bitch to weld unless you are a magician
(by my welding standards anyway) it is also prone to corrosion but I imagine some of the protective coatings available now would mitigate that.
Personally I have a thing about Titanium, if I could afford a titanium bike I would buy one in a heartbeat.
As for gears has anyone tried modernising the old Sturmey Archer system with an electronic changer, if you wanted to get really clever you could have the system 'cassetted' like GP bikes so that you simply pull out one set of ratios to be replaced with another to suit a given race route changing gear would need a relatively simple solenoid or possibly piezo system.
If it has not been done I claim the idea for bicycles as my intellectual property!
Where technology needs some real improvements though is on saddles, wearing a pair of gel filled shorts is not my thing and sitting for any time on a leather bound razor blade for any amount of time is not helpful for anyone hoping to add to the gene pool, my cycling nowadays is limited to casual and leisure trips so I use a gel cover on a slightly wider saddle but a few hours on that feels like a kick in the crutch by the time I get home.