Originally Posted by
koolerb
Building from the frame up you will learn a ton about bike components/mechanics. But this probably isn't the most cost effective way to approach it. I would hold off and try to find a cool complete (or nearly complete) bike in your price range. My two cents.
Of course you are right about the economics of building from individual parts without the benefit of OEM purchasing power. Having said that, if OP is willing to shop on ebay, use take offs, slightly used stuff, close outs, maybe a group from Ribble or other such place, he ought to be able to bring in the project very cost effectively.