A lot of the parts are recycled from my first attempt and will be recycled a third time on the final product. Then I'll replace with shiny new parts as time and budget allows.
Here are some photos. I built my first wheel for this bike with a Normandy flip-flop I picked up at last weeks swap-meet. Was please with how true I got the wheel. There is a slight buckle in the rim but once the rubber is pumped up it's not noticeable. Check out the pro truing jig complete with cable-tie feelers. Worked a treat though! (frame used for the "jig" the will be the eventual "proper" bikes frame)
Frame I'm using is a compact tange which claims to be "Custom Built". Anyone have any clue to it's origin? Love the bottom-bracket cups, and the dropouts *might* be stamped with "SUNTOUR GT" though it's impossible to read them as they're been ward down by years of use. Best guess is it's a Ricardo Elite bike (S.A. builder i think?) - unless the "elite" sticker was added later.
Tange obviously, the lug work is nice - suggests it might be mid to upper tubing quality?
This frame was originally set to the scraps pile as I wrongly assumed it was a 26" wheel frame since I was not able to fit an inflated 27" wheel onto it. Guess it's just a 27" (maybe 700c) frame with a shorter wheel base? The 27"s fit nice and snugly if installed deflated.
Rides great, 42x18 gearing is good for the learning curve - dispite missing some skin on my shin, learning to ride and skid-stop is coming progressing well. I'll eventualy graduate to a higher gear-inch but piced up the 18t rear at the swap-meet for $5.

Finished with pretty standard front-break and the ol' chop n' flop bars complete with recycled tape for the authentic "hobo" look.