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Are there any cheaper options
No, I think you've probably plumbed the depths there 🙂
Nothing wrong with any of those components, they will build a decent pair of wheels if you do your job. To save any money in the centre you're dropping into either Shimano or chinesium OEM hubs which would be a false economy. If you want to waste a whole day shopping around to save £7, http://www.mach1.fr/en/rims/univer-u0/style-s0 & https://rodicycling.com/en/rims/ have models you could try to seek out which are the equal of Ryde. -
I wouldn't think so - call spokes 50p each, so ~£34 for two wheels worth, and you're down to £72. For argument's sake divide that by 4 for the remaining components, two hubs two rims, and that's £18 per item. There probably isn't a lot worth having and building in to your own wheels for less than that, assuming all new.
What's the cheapest set of components that you would consider would build up into a decent wheel I.e. would be worth putting the effort into building. I'm after a set of 700c, rim brake, 9-speed wheels (traditional spoke count, wide-ish road/touring rims) and I'm considering building my own.
A pair of Shimano Sora hubs, Rigida Ryde Zac 2000 rims, and ACI Alpina spokes currently comes in at £106, which seems steep given that I'd be putting in all the labour. Are there any cheaper options that wouldn't represent a big drop in quality?