What would be the dif between AC and Steel?
If I'm not mistaken steel is OTA:
-busybox
-root
-deodex
AC-ROM is OTA:
-busybox
-root
-deodexed
-pngoptimized
-zipaligned
-dalvik heap adjusted
-Dirty writeback adjusted
-Wifi radio adjusted
-Low memory adjusted
-Sprint bloat to data/app
-Wireless tethering (this can be done on steel also but you need to get it from Google code)
-spareparts (built from source by gbhil so no advertisements unlike market version you'd run on steel)
Starting with AC-ROM v2.7
-Wired tethering comes default, no more fun pack flash - caulkin
-reboot to recovery from power menu comes default *
-USB-debugging notification killed comes default * - caulkin
-New notification icons for gtalk, gmail, messaging, and email
-MMS compression fix - caulkin
-A framework that's been completely re-worked from the ground up (you're gonna like this)
-Smooth sense included into the newly rebuilt framework above by default. Also working to bring smooth sense into the year 2010

-dare i say it ..... a sense mail.apk that allows you to disable EAS security if you want?
Also: (assuming source comes soon)
-Overclocked kernel
-Undervolted kernel
-Perflock disabled
... probably a few more things i missed but i was doing that from memory. Hope that answers your question.
Cheers!