Thanks for all the input on "real" ledges, all! I'd agree that if I was a serious big waller I'd go this route. Or, realistically, I'd just go buy a nice new ledge since I'm not destitute. Only did this because I love to tinker and build.
For those at least interested in this ledge, for the education/fun/experiment alone, I'd say go for it and construct away! Krusty did an admirable job on this design and it holds just fine. Clearly the flaw with this is not the strength but the durability of materials over time. So, that being said, would I take it up some remote big wall with impending storms? Hell no! But for a short climb in good weather, I think it's acceptable. The thing that keeps coming to mind is what, I believe, Pete says about "not so much a big wall climber, more a big wall camper". So... do a pitch, set the ledge, lie perfectly still until the next morning, get the hell off, rap down. There, wasn't that fun!

For the ledge I'm making, I have the first round done. Frame made COMPLETELEY out of pvc (including cross bar), bed made entirely out of ballistics (simply because I already had the material and I wanted the extra strength), suspension made out of tie downs (for the ancra buckles). Again, I don't plan on dragging this thing up el cap, but you know what.... I'm pretty sure it would suffice. It's a little bit creaky but I'm actually quite surprised by how stable it is. I've loaded it with over 400 lbs and it's held without any signs of failure. So I'm comfortable with the knowledge that it will hold a single climber.
The only real alteration I made from the plans available off the interweb is that mine is a bit wider (closer to a double in actuality). I've also created a cinch strap setup on one of the ends to allow for bed tension adjustments. This is as one would find on a manufactured ledge from TNF, Fish, etc. I think this is crucial to setup, teardown, and adjustments.
Few observations:
- this thing can be made very cheap. I have about $60 into it total. Skimping even more and a thrifty person could probably make it for half this. However it must be noted that I didn't purchase any of the bed material so your mileage may vary.
- not sure if it's due to my choice of ballistics, but it's much more stable than I thought it would be.
- don't use plastic quick release buckles for anything with a load... they will blow out!
- if you use the plans on the web (rc.com), be prepared to wing it a fair bit.
- I wouldn't use this ledge for anything other than light duty. In all honesty I haven't had this thing off the ground more than a couple feet.... haven't quite built up the nerve to take it higher. The logical side of me says that it will be fine however.
- folded up and ready to haul this thing is going to be BULKY, but not TOOOOO unreasonably heavy (20 lbs?).
Still have a punch list of stuff that I want do to it such as running bungee and tethering all the pieces together, slightly sanding the tub fittings so they go together easier (but not loose!), making a single clip in point, figuring out the collapsible haul mode, and maybe replacing all the suspension with climbing spec web instead of cheesy tie down web (only used for now to see how the ledge would fly).
At some point I'll post a couple pics of my customizations and to demonstrate some of the confusing parts of the ledge..
Fun project over all.