I bought a 50 cm mercier bike frame from bikeisland and I'm having trouble picking out what parts to use.
I'm trying to keep the price down but willing to pay $$ for parts that matter.
Here's a tentative list...feel free to throw out some other alternatives and places where to get them cheaply (if such a place exists)

Wheelset - Weinmann DP 18 (But is it safe to buy a complete wheelset on eBay from bellsbikeshop?)
Headset - Don't want a CK...thinking about a Cane Creek S-2 (I heard they preform poorly though any truth?)
Crankset - Thinking about going with the Sugino RD2...but I read that it doesn't give a perfect chainline? Is this a big deal?
Handlebars - Nitto RB021
Stem - Going to go threadless...gonna use a cheapo one for now like Aeon until I get the fit right
Bottom Bracket - no idea or what proper size
Chain - no idea
Seatpost - no idea
Saddle - no idea
Cog - was thinking about a EAI...what works best with formula hubs assuming I do get the Weinmanns
Pedals - I have them

Thanks in advance!

I was looking at some earlier that Id like to get and was wondering the same thing! Hopefully someone can shed light on that...

I bought mine from bells. The guys were super nice and everything came true and tensioned up proper. I had my LBS take a look and they gave me the thumbs up.

I have a the RD2 as well. Use a 103mm bottom bracket. You can run the chainring on the inside of the arms for a better chainline, but I don't. Depending on your cog you can get the chainline pretty close. Sheldon has a thing on the chainline provided by various hubs and cogs. Mine is close enough.

i have those wheels but i bought them from fly bike shop and they come to me just fine just took a little longer than they said it would.

If you dont like the color of the spokes/hubs, Bicyclewheels.com can set up different colors for the same price usually.

Anyone else?

I bought a complete wheelset build for me from bellsbikeshop and it took FOREVER to come. I assume I just had one bad experience, but it took almost 2 months. It'll be totally fine if you bought an already built one from them i think. The wheels came and they look really nice and run really well.

whoa, that came out sounding totally confused. I meant, I had a wheelset built for me from bellsbikeshop. anyway....

Wheelset -I like (and use) the Mavic CXP22 from bicylewheels.com
Headset - I have never had any issue with my Cane Creek S2. It has already been on 3 different bikes and is still super smooth after 3 + years of use
Crankset - RD2 are good. You will not get a perfect chainline, but it is not too far off. Buy the BB with it. Usually combo deals can be had on eBay
Stem - Get cheap ones until you get your fit dialed in
Bottom Bracket - see cranks
Chain - will either need to be 1/8 or 3/32 depending on what your chainring/cog are. KMC chains are decent for the price. I like the KMC 710SL
Seatpost - Thomson if you have the $
Saddle - Personal preference. My favorites are Concors and Brooks
Cog (and lockring) Just don't skimp. This is one spot where you should buy something quality. Get something machined not stamped.

Anyone else?

The RD's are a bit overpriced these days.Those Pake cranks look decent for the money.

What about wheels from IRO?

give building your own wheels a try!

I might be mistaken, but arent IRO wheels just Velocitys/Formula?

I have a DP18 rear wheel, and have absolutely ZERO complaints about it.