It sounds like a good idea to me. I don't really want a Baja Bug, I'd only want the parts. That pushes me toward the cheaper, beat up bugs. Thesamba has classifieds, checking them every day shows that a good bug in good condition with performance parts and bodywork goes for low to medium four figures, with exceptional examples (or overpriced, I wouldn't know) in the very low fives. Some rarer ads show a bug without a lot of money in it going for the 500s-600s, sometimes with an engine, sometimes without. These ones (I hate that phrase. "these ones." it doesn't make SENSE if you think about it!) have the basics, ratty seat (check) steering wheel (check) wheels and sometimes fat offroad tires (check)... but would the VW suspension stuff even go on the rail? I'd hate to limit myself by specifically getting a frame model that accomodates the VW gear only to have to replace the tabs and mounting points later. It's already becoming obvious that SOMETHING is going to need heavy modification because the available Chenowth models (the 2LW frame isn't even on their site anymore) have a foot shorter wheelbase than 'kosher' FAVs.
The more I look and study, the idea of saving and hustling rapidly for the frame *first* and then adding components bit by bit grows on me. Sure, I don't have unlimited finances, but I *know* that no matter what, it'll get done. The problem is picking the best plan of attack.