For a single-speed all-purpose commuting/transportation bike, I have two frames in mind, and I'm trying to choose between them.

Quiver Steel Road Frameset | Fyxation
Straight-gauge 4130 chromoly
Removable cable guides and derailleur hanger
Track-style dropouts
Clearance for relatively large tires with fenders, with long-reach calipers
ED undercoating

Privateer (Frame) ? New Albion Cycles
Tange Infinity double-butted main tubes, apparently-unbranded chromoly for the rest
Plenty of braze-ons and cable guides, but all are permanent
Semi-horizontal dropouts
Clearance for relatively large tires with fenders, with cantilever brakes

Fyxation can do a custom-build on their frame, to my specs. It would probably land me around $1200-1300 for all the specifics I want, which would include the brand and model of fenders and saddle I want, as well as possibly swapping the fork for something with curved blades. I'd be able to have it shipped to me mostly pre-assembled. I'm not super crazy about the way it looks, though, and the geometry is a little bit of an unknown to me...that is, the bike I find most comfortable sits right between their two smallest sizes, and they use a longer top tube and shorter head tube than I'm used to, so making the cockpit comfortable will likely involve a fairly tall spacer stack. Also, those track dropouts could be a pain with fenders. Caliper brakes, with very long reach to get around fenders and bigger tires.

The New Albion would likely require me to buy the frame and parts all separately, then build it up myself. Using a few bits I have lying around (including using a cassette rear wheel I already have, and buying a single cog and spacer kit), I was able to spec out a build for around $1300, but it would require the time and effort of doing a frame-up build (which I've done before, but....) and using some previously-used components, rather than everything being brand new. It's a really cool-looking frame, I love the paint job, headbadge, lugged curved-blade fork, all that. Also, the geometry is very close to what I'm used to, and I can make a solid, educated guess that I can easily go with the 48cm frame and have it fit very closely to my Bianchi. It's also a slightly higher-end tubeset, which is probably lighter and a little smoother-riding, but perhaps less durable, and there's no mention of ED coating or powdercoat. Semi-horizontal dropouts make life easy with fenders, though. Cantilever brakes (V-brakes are a no-go for me because nobody makes a compatible cross lever, except for the very expensive one by Paul Components).

Which would you pick, and why? Either way, I'm building up with drop bars, drop and cross brake levers, fenders, and rear rack.

Nobody?