[QUOTE=Dayute] I've decided to do a complete build on my new cheapo. /QUOTE]

Why?

you have a bike worth $50, after upgrading the components, you'll have a bike worth $50

Why not get a tune up, replace the parts that aren't working, and save your money for the bike you really want. If everything works then it really makes little sense to upgrade this frame.

For the kind of riding you describe, this is a perfect bike, and if you can save $50.00/week, you can buy a great new bike when the lbs's start to clear their 2007's.

Just my .02 cdn