bassoboy

I've pretty well nailed down what I like for an everyday ride:

• steel road bike with high road bars - great ride and three hand positions
• down-tube shifters - less complicated and leaves room on the bars for light and bell
• fenders - you're going have to ride in the rain or after the rain one of these days and who wants the dirty streak up your back
• back rack with folding baskets - always there when you need them and no worries about pannier theft
• heavy duty tires for dealing with the crap you find at the edge of the street by the sidewalk

A couple of other things:
I keep a tube, tools, rag, and lights in the water bottle (zip-tied to the cage to slow down thieves) plus a pump zip-tied under the back rack.
Reflective tape is good in the city - you want to be seen at night.
My pedals are dual-platform - sometimes I commute to work with this bike and like being clipped in.

I'm pretty well ready for anything when I'm tearing around downtown Toronto so, naturally, hardly anything ever happens.