I've been watching this post for a while now...been meaning to post my beater, finally got around to uploading some photos.
Nishiki Olympic 12 road frame, powdercoated and all stickered up to look ratty. Mavic rims, Shimano front hub, Old Campagnola non flip flop rear, 52T front, 18T rear, Speedplay X2 pedals, hacked/flipped drop bars, Shimano 105 BB, Sugino cranks.
I've got so many miles on it, it's not even funny. Eventually I'll build up something nicer, but till then I'll just RIDE IT LIKE I STOLE IT!