Hi guys, sorry for what I'm sure is a redundant topic around here (I searched the forums a bit and couldn't find anything, though).

I recently picked up an old KHS competition frame dirt cheap, with the sole intention of making it into a fixed gear build. I only ride coaster brake bikes, so this is my first foray into the fixed gear world. I'm building this primarily for the experience of building it; I'm not too sure that I'm going to actually enjoy the end result, and on top of that, the Craigslist market for such a build will guarantee that I'll never come anywhere close to recouping my money. Therefore, I'm trying to do this on the cheap. I figure, if I end up enjoying it, I can always go back and upgrade components.

So the bike came with some pretty sweet 36 hole Araya's, so I want to reuse those. Therefore, my only limitations are that the hub has to have 36 holes and needs to be flip-flop for fixed/freewheel support (thanks to years of coaster brake riding, the world of freewheeling is also something I'd like to check out). Beyond that, no real requirements - I don't care if it has cartridge bearings, quick release skewer, etc. As far as I can tell, this is as cheap as it's going to get:

Formula Rear Track/Freewheel TH31 Hub - 36H Silver:Amazon:Sports & Outdoors

Also, pardon my ignorance, but it's labeled as a track/freewheel hub. I understand the difference between track and fixie bikes, but I guess I don't know the difference (if there is any) in their hubs. I should be able to take this hub and put a freewheel on one side, and a fixed gear cog on the other, correct?

Thanks!