This might be the thread Al was referring to:
http://collab.mathsoft.com/read?124003,63It's a long thread that mostly has nothing to do with fitting sinusoids, but the hyperlink points directly to the relevant post.
Yes, sinfit is very limited. For real world data I almost never use the built in fitting functions such as sinfit, expfit, pwrfit, etc. When fitting data you need to account for all the real degrees of freedom, and not fit ones where you know, a priori, what the value should be. As an example, in the thread above sinfit wouldn't work even if it did allow the frequency to vary, because of the additional curvature component. So it's better to build a custom function each time.
Richard