The replies to this thread have sold me, I'll be on custom wheels sometime in the next several months.
You might want to look at Universal Cycles in Portland, Oregon
http://www.universalcycles.com/wheelkit.php
Look at their custom wheel builder and dial in what you want. I believe the total price for a wheel set is less than the cost of the individual components. Their prices are competitive, their wheels are excellent, and their customer service is great. I have had 3 sets of wheels built by them, and they do do a high quality job. I just had a set of wheels built for one of my touring bikes. I used Shimano 105 hubs, Velocity Dyad 36 hole rims, and Wheelsmith double butted spokes, and the cost of the completed wheelset was $301. Last year they had their Ultegra hubs on sale, and I got the same wheel set only with Ultegra hubs for my wife's bike for $291. .