Have been wanting to rebuild a road bike for riding to get more mileage. Though to keep costs low had to do it as cheaply as possible as I want to get a Cyclocross bike this winter. Plus it came about simply due to a discussion with someone with the misguided belief that one has to spend lots of money to have a road bike or a tri bike.
First step was the frame which was easy. Had an old Centurion Le Mans in my parents basement so had it shipped out. Once I received it I stripped it of all the parts. And after a trip to Rona for black spray paint. The reason for this is there was rust in some spots from the frame being chipped and such from use. Painstakingly cleaned the rust off section by section and painted each section black. After everything was cleaned and painted. Began adding layer after layer of paint- basically sprayed it once then let it dry. Once that was done added a few layers of clear coat. Sure would love to have the old Centurion 1980's paint job but I am not that skilled. And am no where near the Hamster level of skill that is the Dicky.
While this was going on sourced various times. Set of road brakes $25, wheels $60, brake levers $30, cranks acquired from a parts swap, chain parts bin, bars freebie, tires $25, Derrailleurs freebies, and cassette parts bin. Pretty much less than $300 bucks with the only part remaining to get being a Octalink V1 BB. Plus need some tires, hoping to find some 700x25's if I can.
Now keep in mind this is only for fun. The bike will be spending the winter mounted to the old Turbo Trainer as riding road bikes in snow and ice is not fun. That is what the cross bike will be for as well as the Concubine V2. Though the next project will definitely be the funding of a cross bike for 2011.
The reality is that this is a build project to see how cheaply one can build up a road bike. It's to challenge the present convention that one needs to shell out large sums of cash to ride or race well. Shortly the build will be complete and Part 2 will be the full cost and other such as uninteresting weight weenie gibberish as can be applied to a non UCI approved project bike.