I think he should do it. Sure it's a lateral move but it's only $40 to get a hubset from IRO now. Since the dimensions of the hubs are the same, he could just reuse the spokes and nipples. Then he can sell the Formulas on CL or whatever for $40 or something.

He can learn to build a set of wheel for free basically.

However, if you do not have patient, then just GTFO.