This is pretty much what I have been looking for... A track frame that I won't be afraid to ride on the street.
http://www.specialized.com/us/en/bc/SBCBkModel.jsp?spid=45783&eid=4350&menuItemId=9256Thinking about building one up so I can learn how to ride backwards

Another thing, it's available as small as 47cm, for the vertically challenged.
They claim "track" geometry, but the angles don't seem as steep as what I consider "track" geometry... at least not in my size anyway (52cm has 74 degree seat tube angle, head tube angle is spot on at 72.5)
I'm happy to see such an "old school" budget minded offering from a large company such as specialized.
Group buy anyone?!