I'm a bit late to the thread...
I've built a total of two wheels, which I worked on a few months ago. The most difficult part for me was deciding when the wheels were done. I would spin the wheel and try to make it just a bit truer. Or I'd use my tensiometer and try to make the spoke tension just a bit more even. In all I estimate I spent maybe 12 hours per wheel. It was fun! But I'm not quittng my day job just yet.
I decided I'd take the plunge and try my hand at wheel building after I watched Bob Freeman build a wheel for me. He made it look so easy!
Regards,
Mark Encarnación Bellevue, WA
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Mark J. Encarnación <mark@encarnacion.org>