When deciding on hubs you need to know the spacing on the frame you are building the hubs for; 130mm or 135mm.

Like you I have decided to build my own wheels, but it is certainly not a cost savings, though I agree even a first timer can equal or exceed the quality of a machine built wheel if they take the time. I started building my own, because I wanted to use dyno hubs. In addition to the book mentioned above, I recommend the following DVD (I liked the visual approach); http://www.amazon.com/Master-Wheelbu...wheel+building

For rims; I have used Mavic A519 and Velocity Dyad's (which I prefer). For 130mm wheels I prefer the Shimano 105 hubs but my next wheel (135mm) I will be trying the Grand Cru touring hub and the Velocity Orange Diagonale (more tradition box look). For spokes I use DT swiss double butted 2.0/1.8/2.0 which are just as strong as straight. If you have trouble finding spokes (which I did) you can order them from Harris cyclery (they include one extra free).