I think most people build wheels these days because they can get a good set of wheels for less money than a set of high end boutique wheels.
Don't get me wrong, all of my bikes (except the tandem) have boutique wheels - there are a lot of good ones out there - but most of them cost 700 to 850 bucks. You can build a set of good wheels that are almost as light as the Topolinos for about $550. That's a large percentage savings.
If I was going to build a set, I would go with American Classic hubs, Velocity Fusion rims, and DT or Sapim spokes. I have Am Classic hubs on my Rolf Elan wheels, they are sweet hubs. The 25mm tall Fusion rims are very strong, and are a good compromise between aero and light weight at about 450g.
As far as the lightest aluminum clinchers you can get, Rolf Prima Elans are (according to their respective websites) 100 grams lighter than the Topolinos. They are quite stiff, and have hubs that are generally thought to be more reliable than the Topolinos. The Topolinos do have a more comfortable ride though.
If you are not a weight weenie, you might consider Campy Neutrons. They weigh about 1475g, but they are durable and very comfortable. They come with Campy or Shimano freehubs. They are selling the Shimano version at Cambria Bicycle Outfitters for $500, which is a good $150-200 less than everyone else.
Have Fun,
Mike
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