IM MOO 06 will be my first ironman-distance race as well, and I will be riding a tri bike there. Having looked at a lot of pictures, I would say that the vast majority of riders at previous Madison races have ridden tri bikes, but there were plenty of road geometry bikes as well; if you chose your road bike you would not be alone.
There are definitely advantages to both types of bikes on a course like this, so I say go with what you are most comfortable with. My tri bike is the only good bike I own so that's what I'll be on. Regardless of which way you go, IM WI is less than eight months away, so you need to make a decision soon. Pick a bike, get properly fitted, and stick with it.
Something else you might want to consider is the age of your bike. You mentioned that it was older...how old? Buying a new bike might not only get you a new frame, but also all new components. You don't want to go through all the training and sacrifice of preparing for your race, only to have something to **** out on you at mile 80. Having all new componentry is an insurance policy against a day-ending mechanical.
And, more than anything any particular bike can do for you, YOU need to be prepared for a long and grueling day on the bike. Practice hills, practice in the heat and wind, practice going long. People suffered on that course last year...over 200 of them didn't make the bike cutoff. Commit right now to not be one of them in September 2006.
An Ironman represents a huge investment of your money and your time. Do what it takes to get there and enjoy your day.
Best of luck! I'm off to go ride my trainer.
mm