I took all my components down to the bike shop where I know the mechanic and we went to work. After a tire, chain, derailure, shifter, brakes, housing, wheel true, seat post tightener, handlebar tape, and peddles, the bike is fully operational and looks great!!!!
Painting: $20
Bottom Bracket: $18
Today's costs: $118
Total: $156
I thoroughly busted my idealistic budget, but I learned a lot (especially from today's session) and have a great commuter bike. I hope you all like it!
A HUGE thanks to Whit, the mechanic down at The Mountain Works. He gave me a great deal on parts and labor and let me hang around and learn a bit about his trade. If you're a La Grande local or passing through I highly recommend their shop!