I will say that in all cases, I have gotten lucky and ended up with a bike that I really loved, whether I build it myself or buy fully assembled.
As long as I have the available time I take pride in building my own machines and getting all of the little personal touches and cable routing 'just so' that you won't necessarily get from an LBS.
Probably my best 'value' bike was my TT bike - It only gets raced half a dozen times a year (less now) so I needed something that wouldn't be obscenely expensive, but fit good. ST classifieds provided me with a Cervelo Dual frame, fork, post, brakes, cranks for a whopping $345 - bought some secondhand vision bars from a friend for $25, got a used Adamo from ST, some cables from the LBS, wheels I already had, etc, etc - had a functioning (and well fit) race machine for under $600 expended.
As long as I have the available time I take pride in building my own machines and getting all of the little personal touches and cable routing 'just so' that you won't necessarily get from an LBS.
Probably my best 'value' bike was my TT bike - It only gets raced half a dozen times a year (less now) so I needed something that wouldn't be obscenely expensive, but fit good. ST classifieds provided me with a Cervelo Dual frame, fork, post, brakes, cranks for a whopping $345 - bought some secondhand vision bars from a friend for $25, got a used Adamo from ST, some cables from the LBS, wheels I already had, etc, etc - had a functioning (and well fit) race machine for under $600 expended.