So I've decided on building a fixie...
 

This'll be to school and for a little thrashing around.

I'm wanting to build a really aggressive riding fixie around $500. Something that weighs less than my wallet and is terrifying.

I'm thinking of getting this frame: http://www.leaderbikestore.com/pd-721tr-track-frame.cfm

Which would leave me like $150-200 for a wheelset with a flip-flop hub. Possible?

After that, I'm just gonna harvest some bikes around my dad's house. He has a couple old steel Fujis lying around that I'm sure I could take a couple things from.

And what about painting the frame? I'm thinking a really strong but deep blue color with white bar tape, brake cable, chain, and sidewall tires. Or maybe a white frame with blue accent...

Head in the sky? I'll put together a build diary whenever I get the frame.

a painted leader with with 20+ year old components and an ok set of wheels (and tires aren't terribly cheap).. Why not just save some money and buy a kilo tt pro? And if the components from some old fujis are worth taking why not just clean up one of them? You're listening to the poor, on a budget college student in me.

And to tell you the truth your bike would only look cool and aggressive from no less than 50 yards away.

Could someone quantify for me what "aggressive" means in this context?

The the OP: I hope your $500 budget isn't too firm. You'll probably end up spending 8.

at least 150 but probably closer to 175

Well that explains everything.