Originally Posted by Andy_K

Buying frames online can be hit-or-miss. You never really know how the seller measured the size. You don't know if they'll do a good job packing the bike. You don't know if there are hidden flaws that the seller didn't show. Etc., etc. I've had generally very good experiences buying frames online, but there are a lot of things that can go wrong. As a general rule, I try to only buy from people that I have some reason to believe know and love bikes. The seller for that Fuji has a good rating, and based on the pictures they aren't just selling something they found in there garage. Looks kind of like a bike shop with an online presence. The rust on that frame is a bit worrying, but at that price it seems like a decent risk.

The big question is how comfortable you are building and maintaining vintage bikes. If you have to take it to a shop to get even basic work done, the expense of starting from a frame is probably going to be painful. If you can do you own work, or know someone who can help you with it, or you're willing and eager to learn to do the work, you have a lot more options.

How do you feel about the buying and selling process? There's really no better way to figure out what you want in a bike than to buy one and ride it. Then if you don't like it, sell it and buy a different one that addresses what you didn't like. If you're patient, you can sell used vintage bikes for what you pay for them, as long as you don't spend a lot making them rideable. Until you have a bike that you love riding, I would avoid spending money on any kind of customization. Focus on things that you can easily move from one bike to another. Wheels and tires are the biggest bang for the buck, and within limits they're easy to move from one bike to the next.