This may be a noob statement and comment, but how much do you really save buying parts and investing the time into it? I mean I have seen people doing the same for 1911s and ARs and for the most part they invest way more into a piece that they can buy off the shelf pre-configured the same. As far as reliability, homebuilt as more likely to experience problems than commercially built ones.
No doubt the satisfaction and the cool factor of something you make yourself but I fail to see the return if the inevitable problems come up. I also see people dumping or dismantling the parts and recouping for a fraction of what they spent on it.
Depends what you're comparing it to. A NIB WASR-10 is roughly $350.00. A used Polytech Legend can easily cost $1,200 or more.
(all $$$$ figures are approximate).
A builder can still get a decent Romanian "G" parts kits for about $100.00 - $125.00. Some of the Polish and Krinkov kits are twice that and more.
Unfortunately, many of these kits are starting to increase in cost due to a limited supply and the ATF directive banning most barrels from importation.
Stripped receivers... $80.00 - $100.00 or unbent flat... $15.00 - $20.00
US compliance parts kits... under $50.00
Misc (rivets, furniture refinishing, GunKote/MolyResin/DuraCoat)... $40.00 - $50.00
This doesn't include the costs of any needed tools or jigs which can vary from a 24" set of bolt cutters, drill bits, drill press, air brush, sand blaster to a 12 ton hydraulic press, spot welder and jigs for bending flats and crushing rivets.
Forgetting the tooling for a moment (except for the minimal requirements), one can easily build 2 - 3 AKs for the cost of 1 middle of the road AK and quite a few more when compared to the 1K and up ones.
One downside to rolling your own (at least as far as this state is concerned), is that they have to be built in a post-ban configuration... no bayonet lugs, folding stocks, muzzle brake has to be permanently attached, etc).
As far as problems go, sure there's the potential for some, but that's more the fault of the builder than the product.
Keep in mind, these are AK-47 builds we're talking about. They don't have to be in close tolerances, state-of-the-art or highly accurate. As long as they're built with a degree of safety, most of the problems can be cured or avoided.
The one thing I would avoid is kits with non-matching numbers (at the very least it's desirable to have the front trunnion, bolt and bolt carrier match).
Anyhow, your assessment about the cool factor and satisfaction is dead on (at least for me it is). It's a unique hobby that I find rewarding (FWIW, I'm one of those people that has to take
everything apart at least once). By building my own I've learned way more about AKs than if I had simply bought one off the shelf (same for my AR-15 builds).
I lurk and post on a few of the AK related forums and there are builders out there that literately crank out these things a half dozen or more at a time.
I only have 2 builds under my belt that went painfully slow, but now that I have some experience and equipment, I expect any future projects to progress a lot faster (RPK, Krinkov, AMD-65, Dragunov).