Agreed. But then there are those who only want to ride and know nothing about how their bike actually works or how to fix/adjust anything and would much rather pay their LBS to do it all for them. And tools, if you don't have them, could easily add up to the cost of a new bike and beyond - at least for the good stuff. I'd much rather see everyone riding around on bikes that they built with their own two hands than all the bone stock rides I see now but the reality is that the majority of bikers lack the ability/time/desire to do such. I still say that, considering the parts you listed for your potential build, you're better off buying a new bike and saving the $$$. Why waste the time and money building an entry level bike when there are more than a handful of companies selling new bikes in your price range(unless you truly do love to wrench)?