I went with the adjustable stem so I could dial in my position over the coming months. Once I'm comfortable I will probably move to a fixed stem. I have a local recycled bike LBS and I plan to see if they have any deals on a cassette and r. derailleur. I have some old bike parts I can trade. I'll probably have them build up my wheels around my LX hubs. Still need to add fenders and lights. These fenders are nice: http://www.jitensha.com/eng/fndrs_e.html
Total build cost should end up ~$1200. Not bad considering most of my build is new parts.
I'm assembling it myself so no labor costs.
Thanks to those who have been answering my questions!