Hawgbone, if your gonna build a frog rod Mudhole's 2011 cataloge has a 7.4 Frog Rod dedicated at $47 bucks. I think its a 844 but im at work right now so can't check my cataloge.
Problem is that they are not on line in the store yet, I called and Gary told me they are waiting still for the supplier. He said by the end of Januaray they should have them. may be worth to wait it out, Im gonna wait for it myself.
personally, I would use alconite guides, and go micro, get my own reel seat i want, buy premade split handles, and tiger wrap it. Even play with some winding checks.
The problem on high spending for a rod is you will have something crooked or your finish flawed and at that much money it sucks.
Like me my first rod I had both issues, but I spent 20 bucks for a IM6 mudhole blank so it didn't hurt so bad, but the IM6 is a decent blank still.
Good luck with it Im sure you'll love it