I read here that one can buy a $50 frame/fork and build a ss/fg for under $500. It made me think - how do you do that? I read above that it can be done, but then I look at the components and I can't get there.

What is it really costing people to convert? I ride a PX-10 conversion, and it cost more than $500.

Hows about sharing your real numbers? Assume $50 for the frame, what did it cost for:

$ - seatpost
$ - saddle
$ - bb
$ - crank
$ - pedals
$ - wheels
$ - chain
$ - freewheel/cog(s)
$ - stem
$ - headset
$ - bars
$ - tape
$ - levers (if applicable)
$ - cables and housings (if applicable)
$ - calipers (if applicable)

And, for extra credit, list all the tools you had to buy (chainwhip, etc.) to make it happen. If you just used your own parts, you can decide whether to write "bin" or estimate the cost. There are folks with limited budgets who want a conversion, lets help them understand the project.

If you reused parts from the bike you bought, mention it, but it would also be great to know if starting with a "complete bike" cost more than $50.