There has been a trend in recent years towards fixed geared bikes which provide an uncluttered 'clean' look as well has being light. These are fine for flat places like London but if you live in a hilly place then fixies are more problematic.
The next bicycle renaissance will be for hub gears as Sturmey Archer provide a range of alternatives up to 8sp, there is Shimano Nexus 8sp and Alphine 11sp. The gold standard in Rohloff 14sp which are used by many round the world riders. The big advantage is their durability.
The bike below is a Dawes 531st frame (possibly a Galaxy) with a Sturmey Archer 8sp hub which was built by Spindles at the end of 2011 for a local customer. We upgraded the bar end changer to an American design to give superior performance. Price was £350.
Our next project is a Dawes Jaguar with a Sturmey Archer 5sp, deep section rims and hub brakes.