Honestly, if you have new hubs and spokes, you might be better off selling your complete wheelset and buying a new pair of Open Pros (or your rim of choice.) Figure out:
- How much new rims will cost you
- How much you can sell your complete Formula/Open Pro wheelset for
- What you will do with a pair of Formula hubs and a bundle of spokes.
If your rim is a little out of true it can certainly be built back up into a nice straight wheel that will last forever. However, if it has flat spots or other damage, or is very badly bent, it's not worth building up.