I recently found a slightly used handbuilt wheelset for $125. Tiagra hubs and Sun CR-18 rims.

Previous to finding this, the best deal on handbuilt wheels I could find online is through Universal Cycles. It appears they are backordered on Sun CR-18 36 hole rims, which are ideal for rear wheels (unless the rider is very light and not carrying much of a load). Anyway, currently you can get Tiagra hubs, Salsa Delgado rims, DT Competition butted spokes, and brass nipples built up for $170 before shipping ($16 less with Sun CR-18 rims). I'd figure $25 for shipping, but it may be cheaper since you are both on the West Coast.

Handbuilt is the way to go for longevity, and wheels are the best investment you can make.

http://www.universalcycles.com/wheelkit.php