Cyclescheme dilemmas... (dream bike for under a grand)

I've just been re-reading the wapping warrior thread and can completely sympathise. The cyclescheme idea is excellent in that you can get a bike for roughly half price. The problem is, you have to buy the bike and accessories in one go from the same shop and as a novice, this can be daunting. (Although his bike does look pretty cool!)
I bought a Genesis Flyer a while back as my first fixed bike and have been very happy with it. I'm already thinking about upgrading various parts but am tempted to hold back until the spring when I can get myself a whole new bike. (Hence the dilemma, I want new stuff now but can't justify the extra cost!)
Anyway, the point I was getting to was that there are probably a few people coming to this forum with a cyclescheme voucher burning a hole in their pockets and looking for advice. Most of the advice is for slow build-ups rather than brand new one-off purchases, so I thought a thread on this topic would be helpful. (And also help me get some ideas!)
Where's the money best spent? Frame or wheels?
Where can you skimp on quality?
Any recommended bike shops that do cyclescheme?
Etc, etc..

go to putney cycles.
Get the most ridiculous uber bling bob jackson ever.
Have fun.
they're really really solid blokes.

or whitcomb..

Witcomb doesn't do cyclescheme. The list of shops that do is here...

First timers will probably end up doing what I did, go to Cyclesurgery and buy a flyer or a langster. Not that there's much wrong with that, but more people buying more interesting bikes can only be good for small bike shops and the second-hand parts market!

i was all set for a "wapping wazzerer" barbed comment, but at the end of the day, and people may shoot me for this, you can do a lot worse than brick lane bikes, providing you know what you want. and that last clause is based solely on this thread. they are nice people, they make a living, they are a LBS... they have been brilliant with me, and never, ever ripped me off. and i have been to alot of bike shops, including condor (or CONdor, etc) where i bought a custom steel framed thingy i use for non fixed riding.

the only thing that confuses me about the wapping schlorrier story is that they have a fully built, nice wheels, shame about the bullhorns, rideable BJ in there now for way less than a grand. it's sat there waiting to be de-cherried.

I'd buy a CONdor fer half price. They're not so bad, really. Except their fakeNJS which is just criminal.

I'd certainly hand them my coin before BLB. You'd have to pay me to go in there again.

You could score a Soma from Mosquito, but Somas are daft money and Mosquito service is dismal.

The Putney/BJ option appeals on paper. I have, however, been there holding the folding and and Oystered it home. The Jackson I was shown pretty ordinary and the finish was (pube on the top tube) poor. Also they recommended me the wrong size.

The Wilier Pista from CycleSluttery is a top deal, IMHO. I rather like it, somewhat irrationally.

"(pube on the top tube)"

short of finding a rotten molar in one's curry, i can't think of anything more disgusting.

RPM or whitcomb..

cyclescheme might bring the price down to just under a million.

Just buy two london langsters ;)