As far as I know, frames under all three names were built by Dave. I think the earlier ones were just M Steel, then the more racing oriented frames were Joe Waugh, and touring/MTB were Dave Yates. But I do vaguely remember being asked which decals I wanted on mine when I got them so I don't think it's a definite "rule" that the names are applied in that way. I don't know if they ever had anyone else building frames, or outsourced anything. For both of mine, I was measured and dealt directly with Dave at the workshop, and assume he himself actually built them. Top bloke, and top frames!