Probably the price, the RC30 was quite an expensive fork new as it was, I think they were about £160 weren't they so god knows what they'd have charged for titanium ones.
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I have a copy of MTB magazine stashed somewhere stating only two sets were ever made between the Pace Merlin collaboration, one set attached to a reported stolen RC200...imagine that cropping up on ebay one day
The french Merlin importator has designed some Merlin fork.
It was a pace RC30 and he changed steel legs for titanium. But, he putted an aluminium tube inside each legs : from the top of the tube to the brakes bosses, for a stronger clamp on the crown, and a stiffer braking ;-)
But He made only 3 or 5 forks. For the price, people prefered suspension fork. But I still the idea somewhere in my brain