The Home Cockpit Project was started in the summer of 2009 - I just stumbled across some videos on youtube which showes other home built cockpits. And my jaw dropped - and the project just had to get started... 
I am in the process of reading a lot about how others have set up their projects and try to learn from that. It will be a costly project and a time consuming project - which is why I'll try to build it in fases. I'll be basing my cockpit on a FSX 737 NG. I'm planning on buying software from Project Magenta and hardware from FlyEngravity.
First goal is to get the MCP Pro and the EFIS pro from FlyEngravity and then play around with different software to learn.
I keep track of ideas and progress on my research in my forum, feel free to participate here:
Cockpit forum
Happy contrails
Dan Rasmussen