>>4
Didn't notice the `why' part in the topic, so I'll explain:
SBCL is a cleaned up CMUCL, which is pretty much the standard CL for *NIX, it has fast native code compilation and very good ANSI support, as well as many extensions. The generated code is pretty good quality/fast, especially if one adds proper declarations. It's also very nice to be able to just press M-. in emacs and jump the the function's source code, it makes the learning experience much easier: to be able to see how some construct is implemented by the compiler/lisp. I think SBCL's debugging support could be better, and there's some minor bugs on the less supported platforms, but no major or hard to fix bugs.
An example of such a bug and how easy it was for me to fix it:
I installed it on a Win32 box, and tried to get ASDF-INSTALL working, and it turned out there was a minor issue with some of the non-portable parts(downloading and installing systems), so all I had to do was run a few TRACE commands, then after locating the faulty function, just modify the source directly and send the modified function the the REPL... and the fixed version was working without any issues, no whole file recompilation was needed, it was all instant ( to preserve this, I would have to either save the image, or recompile it, either is possible in SBCL ).
SBCL lacks a true interpreter, which means debugging isn't as good as on interpreted lisps such as CLISP, so that may be something you might want to try too, but I hear Allegro CL has excellent debugging support too.