Ken Cox - excellent post.

I've built five bikes now (or rather converted 5 bikes). Two were mine, the other three were friends. All were good times. My most recent build was Gretchen, a bike I loved a lot. I upgraded parts, bought wheels and so on, swicthing things out as money came to me or the need arose. In the end I spent a good 500 bucks on getting nice stuff. Then a car hit me. Gretchen was not salvageable. I've always wanted a track frame so I bought a Pista to replace her. The Pista felt right, and the geometry was just "on". I didn't have to adjust.

I had the money this time so I did it. I've been slowly replacing parts (because I enjoy having quality components on the bike) and by the time I'd done, the only thing stock on it will be the frame. Funny but that's the way it is. I enjoy both sides.

Do what you feel you want to do. I suppose if you buy off the shelf, you could always sell it back out and get some decent money back.