I would agree. Try to find a bike boom racer (70's 80's) complete and cheap. Take off what you don't want. You can use the original wheel for a SS or build a fixed/free wheel. This way you get a good set of cranks, the correct BB, and headset. You can get a wheel built up complete for under 100$ or lace it yourself (great thing to learn). Do a google search on "fixed gear" and some great sites will pop up. Sheldon Brown is a great resource (you may not need others), oldskool track is great, and many others. There is a great knowlege base in here that is more than willing to help.

Good Luck
Chris