I don't overhaul bearings unless I have to. I feel no guilt about this.
I follow the BF guideline of trying to make at least $100 profit on each, not counting time.
Bill, thanks for the minimum requirements. I'll use that from now on. I've collected much too much low-end stuff, and in the middle of a project, I realize it's too much work for results that will never be very good. One exception will be mixtes. Women love them. I recently got a Motobecane mixte Mirage. It's gorgeous. I'll put on upright bars.
I also buy consumables online, particularly Amazon. Amazon stocks more and more of this stuff. I like that because I save on shipping. I'm also a big customer of Niagara. I stock up on tubes, tires, chains, and cables.
Also, lycra seat covers are a wonderful thing. Many seats are perfectly useful but ugly.
This $2.87 thing goes on like a shower cap and looks perfectly presentable.