I think it's a great idea. At the most you'll end up spending a few extra hundred on parts so long as you stay away from C-Record, and you can think of it as an exploration and learning experience. If they were teaching a course on the subject at your local community college, how would you be willing to pay? Well, think of C&V + youtube + the web as the CC. You can buy a great frame on Ebay that might need a repaint and decals for $200 or less, and then do the cosmetics yourself. If you take your time you can do a rattle can paint job and flawlessly line lugs that'll for a look that's nearly pro - there's already a great thread on the subject. For a 70's project you can buy Nuovo Record instead Super Record, save a lot of dough, and have a bike that would have been worthy of the TdF. For an 80's project you can buy 1st generation Chorus or Athena and save a lot of dough over Record, and have a bike that will actually function better and maybe be a few grams lighter. You can always mix and match from different groups opportunistically and bargains appear, and few will ever know the difference. Good luck.