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@edscoble
There are 2009 gruppo that are going for less nowadays, I managed to pick my groupset for cheap (£300) simply because I was reusing old part, like an 80's Chorus front derailieur which still work perfectly well, and most of it are second hand.
I got some good advice from the forum about reusing the old crankset by simply changing the chainring to a modern one so it'll work with the new 10-11spd chain.
Hippy suggestion seem like a good one, buying a P-X bike and sell the frame itself.
Some gruppo's hubset are not exactly great, for instance the Campag Centaur one, so best to opt out a different one (like the Royce you mentioned).
Hand build wheel for the win, good old open pro with decent hubs is defintely a good choice, I and my dad run open pro on our road bike, he prefer it when his hubs got ruined in the Pyrenees, went to a bike shop, got a new hubs, rebuild the wheel and off he pop.