Yea, I don't see a problem with building a bike from scratch if the frame set is available.

Plus I still am of the opinion that conversion make unique bikes. I don't think there is another bike on the planet like my 1970's olive green soma Fixed gear with a soma fab wheelset, and burlap coffee bag TT protector.

But there are plenty of Mercier Kilo TT's and Schwinn Madison's of the world.

I say go for it. It's a labor of love!