I was sorta in the same position when I bought my fixie (khs flite 100) because I was going to do a conversion as well. I ended up just buying a bike outright since I couldn't get a better deal (50% off) and I the frame I found was a pile. Granted a conversion is a labor of love, I was in school and working so I didn't have much time to put towards a conversion. I guess it's a question of time too since you could probably ride a complete faster than if you were to do a conversion. Maybe save the frame for a second fixed conversion project?

Everything I have read on here about IRO is all positive. The next fixed I will be buying will most likely be coming from IRO because the price is right and Tony only gets compliments.