Better for what?
I have both...
Carbon is a heck lot easier to pick up... hahaha
They both have really good road damping qualities; almost no difference...
My carbon bike is obviously stiffer than a 10-yr old steel...
I'm always paranoid about my CF bike, whereas with my steel... I run that frame through hell with no fear - granted I paid big bucks for the CF and like none for my steel
I wouldn't put new components on my old steel... just running that thing into the ground now... but your frame might be better than mine... I dunno
-Peter