I picked up this Raleigh frame a few months ago, and converted it to fixed. I posted some pictures of it here.
After a good bit of riding, I decided on some updates. First, I wanted to do a repaint, and I'd decided I wanted the brake hoods position back like my road bikes. Also, I almost got t-boned on a ride when a car turned in front of me and I reached for my nonexistent brakes in the drops.
I got a set of the inexpensive Cane Creek SCR-5 levers and I love them. Comfy, good looking, and they have a quick release built in. I also picked up another set of Weinmann DP18 rims, stripped and polished them, as well as a new set of track cranks. I wanted to start riding it on some of the fast local group rides, so I needed more gear: it's set up here with 54x16 and a freewheel so I can take corners in a group.
I've got about 100 miles on it this way, including our Tuesday nighter at 25+ mph for an hour..I love it! It gets more attention than the high $ carbon bikes when I bring it out, too. Total investment is somewhere around $150 now, plus a good bit of time.