It's been a while with not much to report, but things have been moving along.

I got the Ultegra 6800 derailleur all polished up. And a bushing made.
Polished derailleur & bushing by Richard Mozzarella, on Flickr

And some wheels built. Velocity A23's
Valocity A23 disc by Richard Mozzarella, on Flickr

The bottom bracket adapter polished and installed. The BB60 road bottom bracket with 3 spacers to widen it up to 73mm, and HollowTech Deore crank. I would like to have had the silver XT bottom bracket, but believe it or not it was too skinny on account of being designed for the same Q-factor on a wider shell. It would've needed a dangerous amount of spacers to work with the 68mm road. Instead of spacers, the external road bearings are wider.
Truvative American to BSA adapter by Richard Mozzarella, on Flickr

The Deore XT crank has a mix and match of double and triple chain rings in order to get the 28/44 16 tooth split I wanted. The gap between the rings was too great and the chain wouldn't reliably engage; It would sometimes freewheel as it got caught between the rings. A 1.2mm spacer to move the big ring inboard closed the gap between the rings and is now consistent with 11 speed chain ring specs.
Chainring spacer by Richard Mozzarella, on Flickr

The back half of the bike with a 32 hole Velocity A23, PowerTap hub, an 11-40 tooth Deore cassette, the M9-bazillion-plus-shadow-ninja-warrior derailleur, and HG-X11 chain that needed about 5 extra inches from a second chain to be long enough to work. Water bottle cages and R&E Big Squeeze attached new this morning. All drive train is missing is cables.
Wall hang status by Richard Mozzarella, on Flickr

Terry carbon rail saddle from the local co-op and seat post clamp courtesy of Porkchop BMX. It's probably the only Varsity with carbon rails in existence. Good.
Seatpost with Leather Terry carbon rail saddle by Richard Mozzarella, on Flickr

R&E Big Squeeze brakes. Yep, they only come in black. I polished these up too.
Rodriguez Big Squeeze brakes by Richard Mozzarella, on Flickr

If my damn forks will ever arrive, I'll be in business. There's a back story here. For the same price as the Road X, I could get Team X Cyclocross forks with 395 axle to crown, 47 rake, and perhaps most important, clearance for 32c tires and fenders. So, since production hadn't yet started I phoned AVT and did a change order. Their customer service is awesome. Wound-Up's customer service is awesome. They made a few phone calls to each other, and now it's a waiting game.

I feel I've gone back a bit in the conservative rake/trail direction from my original thoughts thanks to discussion further up this thread. So to you guys, I say thank you.