Need info/advise on Surly Pacer

[IBrakeforPastry]

A brief history of the last 18 months or so: Last year I had some serious bike lust for the Pacer (the blue one). I hesitated to buy a bike without a test ride since I think I'm kind of hard to fit at 5'0". I ended up buying a Cannondale Synapse that felt great at the shop, then not so great on the road. Then for fun I rode a Specialized Dolce. It came home with me, too.

Last night I was browsing Craigslist and found (or it found me?) a 42" Pacer frame (the blue one!). I've never built a bike before. The bike shop guy said it could be a fun project. He also said we could take all the nice components off the C'dale, since I may not be able to get much for it, anyway. But I think I would like 650b rims, and I don't know if I want drop handlebars.

So my questions: Could this be worth it? Could I make this bike fit? What's a good price for the frame and headset? Am I crazy?

There's a part of me that wants to just start all over. I'm just afraid I'll make another mistake.

Happy New Year!