I apologize for not being around much lately. Work (shutdown)+my master's classes have had me very busy+plus saving for a house has me too broke to mess with my f-body. Kevin has more experience than me with 10/22's but building a tack driver is really easy and pretty cheap. I'm weird when it comes to firearms I love building, testing and tuning but only half the time do I hang on to them for the long run.
To build an accurate 10/22 I would suggest:
Green Mountain Bull Barrel ($100-125 or so depending upon options)
Decent stock with the action bedded as well as the barrel to the balance point (any price range you can imagine*)
Lighter trigger (there are decent options under $50 and great options under $100)
*If you're creative and have patience you can even modify the factory stocks.
Anyways doing the above and using match grade .22 ammo should nab you groups not much bigger than dime-sized at 50 yards. It may be worth buying a nicer Ruger 10/22 and selling the stock and factory barrel on eBay. If you sell the barrel and stock from a factory target model (10/22T) the net cost of the action will be very cheap. I was pretty happy with my Volquartsen hammer and trigger, but I know Kevin has a group he really loves. I used an $80 Adams and Bennet barrel from Midway (supposedly made by green mountain) and had good results but at 18" and bull it was very front heavy. Next time I'm going to get a 16" fluted green mountain barrel to save on weight.
Ammo prices are only going to go up and with the rising price of copper I doubt they will ever come down in the foreseeable future. I guess that's the excuse I need to build another .22.

I've actually thought of building a custom 10/22 for my fiance so she'll go shooting with me. I've seen some very nice 10/22 wood stocks with the wood dyed purple. Surprisingly having it look "cute" seems to be part of the appeal for her.
http://www.mizzoumuleguns.com/sitebuilderc...eyukonstock.jpg