Huh. Peugeot Px10E frame, 35$. Rims, spokes, wheel, track hubs,chain, bar tape 90$ for parts. Track cog and lockring, 30$. Near new brooks professional off busted up old Miyata, 10$ at auction. Various parts from basement, free. About 165$ total.

Peugeot UO8. Five bucks at auction. Track cog, 20$. Velox bar tape, 5$. New chain, 10$ Parts from basement, free. Cost about 40 $. Great fun. Have an old Urago I think gets this treatment next (it was free, some fool was tossing it). Need to have some fun with it first, though.

"spending time and labor is a lot of the fun in converting"

Yep.

If I find a decent Urago/Lejeune/Gitane/Peugeot/Geminiani/etc trackie, sure I'll build it up. But must have lugs...must have lugs.