Ok, here's my entry, Orange P7 with semi-horizontal dropouts (no need for a tensioner!).
After several years away from bikes got back into it in seriously in 2004 and this was my first eBay 'project'. I had little idea what I was doing (didn't consider steerer length when I got the fork, axle length when I got the b/b, length and rise on the stem) but it worked out perfectly even if it would have been cheaper, but less interesting, to buy an Inbred.
The P7 was ridden at Mayhem in 2005 and 2007 pretty much as it is. Changes from this year are different tyres (not for this competition, the ones I used at Mayhem were too wide and everything clogged with mud wearing away the paint on the chainstays and inside of the forks) and red brake levers and Crudcatcher.
This one remains arguably my favourite bike to ride.