that's my reaction, if you make the lugs then it seems like that's the same amount of work as making a bike. Unless the lugs would be produced by some process that is only suitable for lugs. I think the last thread about this type of thing I mentioned the Ti lugged carbon bike that Bruce Gordon made. He said he wouldnt' do it again because it was too much work. I guess there are counter-examples like the Firefly or the Serrota Ottrot.