Firstly. is there anything wrong with my budgeting? forgot any parts?

Recommend me parts!

BB (103 (maybe 101mm for single ring?) spindle): £15
Chain: £10
Cog: £10
Seatpost: £20


Crankset: £40 - Dura-Ace 7410 - £25 Posted
Wheelset + Tyres: £150 Posted
Frame + stem + bars: £260 Posted
Pedals + cage: £20 Posted

total:

already got stem, bars, brake (including lever and cable) and a saddle.

You forgot consultation fees €$£s

Looks about right.

frame? what you got?

Forks, headset?

Seatpost binder bolt

Bontrager x-lite Hardcase tyres are available here for £9.99 each;

http://www.allterraincycles.co.uk/product/9625.html

hopefully this:

Has anyone used wheel and sprocket from the US before? How likely is it I'll be stung by VAT, courier charges, etc...

Are frame/forks really necessary? Sorry if that's a blatant newb question.

Miche track chain for £6.99 at a lot of places.

But why on earth would you want to faff around doing that? It's not like we're in the grip of a UK-wide wheel shortage...

You can't get Velocities in London, fact.

£110, with delivery, I doubt many shops in the UK can match that.

is this for velocities or weinmann's?

just a note, that people dont realise.

DP18's of the weinmann variety are proper cheap rims, they only cost about a tenner each in the americaland.

Get some mavics my from th UK my friend(the sensible & logical option), if you feel in a hipstery flash, then you must go all the way and get those super deep H rims from BLB.

Oh, you also need a lockring for your hub and probably should by a few tools.

if your after a budget chainset, pearson do the FSA vero inc sealed BB for £40

I think they might be Weinmanns, Velocities seem to be around £150ish.

Aerorage Track Wheels; Precision built with the Halo Aerorage Mid size Aero rim. Light and strong with an attractive mid size 25mm Aero section. Rear GBP81, front GBP79. Next-day delivery.
http://www.surosa.co.uk/detail.aspx?ID=4152

speak to peter at outspokencycles.co.uk, i.e. call him and say you need a budget wheelset. he'll sort you out. i got cxp22s on fomulas for 110, delivered. DO IT.

I recently got a set of DP18s from Wheel and Sprocket. Arrived in 3 working days and didn't get caught by customs. The build seems fine and quality looks okay for a set of £110 wheels but the wierd blue colour and the massive weight don't do it for me so eBay here they come.
Just ordered a set of 'normal' wheels from Webbline for £100 using Mavic rims so will save 600 grams!
On one are doing a brilliant deal on Truvatic Omnium cranks, £90 with BB (external). Other shops are selling these for £160. Bit above your budget but nice chainset, mine arrived this morning :-)

they seem an excellent otp wheel choice.

Halo are well respected makers of DH/freeride type rims.

och I thought I was going to see a you tube vid of jason eating nothing but ramen noodles for a month..

No.
Ask nicely.