Here's mine as a before and after.

I considered it a challenge to make this an ebay project bike, keeping most of the upgrades to deals I can get on ebay/craigslist, although I've had to make some exceptions.

Rides great, been on a couple of singletracks already. Coming from MTB and road, still getting used to the geometry on tight singletracks. Very good roadhandling too, more so w/ road slicks. Korso wheels are holding up well.

Here's the upgrades...
New retail:
Weyless Korso Aero rims (on sale at Supergo)
2 tubes (lbs)
bottle cage (nashbar)
salmon kool stop pads (lbs, man they can stop the bike...)

from old MTB:
Cateye 2 computer
Candy SL pedals (now changed to ebay Speedplay frogs for easier mounts/dismounts)

ebay:
Selle Marco Era USPS saddle - new
Syncros seatpost - used
Ritchey crossmax tires - new
Bontrager stem - used

wishlist:
spooky canti's
full ultegra drivetrain
black open pros w/ black spokes and phil wood hubs
speedplay frogs