Re:
The frame isn't perfect, there are two small dents and some scuffing near the front, but for $40 that's perfectly fine by me. Yes, I don't think that I would have bid on the frame if the forks weren't avaliable in the other auction. The forks had been listed for a couple of months already.
The build will be pretty simple, with spare XT stuff I have sitting around. I just happen to have some coda brakes, brake levers, and handlebar from another bike I owned years ago. Unfortunately, I sold a Coda Magic crank that would have perfect.