My first ever track project

No but would I notice the difference between a pre cursa and a seta enough to justify the extra £400? No but...

Why encourage someone to spank all their money on a load of baubles?
DA's / 75's might get soserious to work a fraction of a second faster, but they will cost him a small fortune and (imho) won't suit the frame.

With this in mind, I gave this project some thought over the weekend, and came up with the following build spec.... These bits are all readily available, and cheap enough to buy new (I expect they could be found for super cheap second hand if you had the time to hunt)...
They will work reliably well, will look "correct" with the fancy lugs / biggish clearances / general retro path racer vibe of the frame, and should build into a sensible, functional, good-looking fixed run around.

Anyway, I thought it might be interesting to share this with the class and see what happened. I probably need to start a project of my own again!

Andel chainset, plus whatever bb works - presume Shimano will do one.
tange headset,
formula hubs, open sport rims, panarcer paselas
Kalloy fluted seatpost (or something nicer but used)
kalloy stem (or something nicer but used)
drops / risers / whatever
Used Brooks / Rolls / whatever
Cloth tape / whatever

http://img28.imageshack.us/img28/4574/43632647056f692f61f5311.jpg
http://www.sjscycles.co.uk/images/products/medium/10953.jpg
http://jail.sine.com/sheldonbrown/sheldonbrown.com/harris/images/hubs-harris-silver.jpg
http://outspokencycles.co.uk/img/formulaopensport.jpg
http://www.discountcyclesdirect.co.uk/images/Panaracer%20Pasela%20TG.jpg
http://www.sjscycles.co.uk/images/products/medium/kalloy-micro-adjust-fluted-alloy-seat-post-with-micro-adjust-top-195-mm-IMG3587.jpg
http://www.velosolo.co.uk/pictures/dscn5364a.jpg

etc etc.

Like I said, just thinking out loud.