It's been a long time since an update!

Late 1990s Caloi XT X-C frame with a Carver steel suspension-corrected fork. Sort of a cheap take on the Cunningham ethos.
All 8 speed Deore XT mech and hubs.

The latest -and probably final mechanical- step was the addition of a Velo Orange Cigne stem to replace the mountainous stack of spacers on the uncut original steerer.

It hip steers beautifully and is faster than it looks.