Originally Posted by Abe_Froman

If you dont have one already, buy a cheap bike trainer off craigslist. They can easily be had for $20. Beer can next to the wheel works great for lateral truing (makes a great scraping sound when they're empty), the steel roller works great for radial truing (makes even more noise).

I've built a few wheels using this...trued to well under 0.5mm variation.