The frame jig for this project is much simpler, as I already know the main frame is straight. I just need a base to block the wheels in line with each other, to ensure that everything is aligned. I bought a piece of 2x8 from Home Depot for under 5 bucks. Some time at school with the planer, the mitre saw, and the table saw, and I had a decent alignment tool.
The next step for modification was enlarging the sliders and slider holes in the swingarm to accept a 20mm rear axle. The dremel tool, and a 25/64" drill bit came in handy here. I have a 20mm spindle coming my way via the Performance Bikes list server. A fellow reader had one lying in his shed, with spacers and nut. Was going to give it to me for a pint, but seeing that I'm not nearby, I paid him 15 pounds to cover the cost and shipping.
The next step is to buy a swingarm bushing, some seals, and a set of new bearings for the swingarm, from AF1 in the states. I then need to get the bushings bored out to 15mm to work with the swingarm pivot diameter I require. I've put myself on a monthly budget of around $100 or so... that will eat up the month of October, and then I'll go about figuring a way to fit the rear shock.