I am moving an existing upper to a dedicated lower that I will use an Ace ARFX stock that I just bought. So I need a lower with everythng except the plastic buttstock if I read it correctly.

I have a source for Eagle Arms lower (stripped and complete).

What are the pros and cons of buying a stripped lower as compared to an fully assembled lower?   I realize I may need a few tools (punches, etc) to build up a lower.  Should I buy a lower parts kit if I go the stripped route?  or buy the individual pieces.  Also What is a good (and cost effective) source for GOOD parts?

What is the price diffrence? The price for a stripped lower should run 100.00(+ -) Lower kit 50.00 (+ -). If the complete lower is around 150.00 go for it. As far as putting together a lower, it is simple takes about an hour and is a lot of fun.For the tools,yes some are needed but not too many. I used a few diffrent sized small nails insted of the punches, worked great.

Buy the stripped lower, IMO its fun and easy to assemble your lower from parts. Get an Eagle Arms lower from Quantico Arms for $100 (unless you know someplace cheaper). Get an RRA parts kit from Legal Transfers for $55.  Dont buy the parts seperate, it will cost you a fortune. The instructions here: [url]http://www.ar15.com/content/docs/assembly/lower/[/url] will tell you everything you need to know, if not, ask here!!
Have fun!

Adco has got about the best prices on any Rock River parts.  They also ship for only $4 on anything, including complete guns.  You could build a lower for $170 plus the FFL transfer if applicable.  Go for it, its not that hard and you don't really need but two specific tools.  Print the Assembly page located on the left side with the page links.  

Fully assembled lowers generally have a stock and buffer tube in place. If you don't need those, go with the stripped lower and the parts kit.

I  appreciate all the good replies!  I have found a source for Eagle lowers and will get the stripped lower and a parts kit.

A good armorer and gun dealer that I have come to trust told me that I really should get a couple tools and learn to build an AR15 to be able to maintain them for the long run in case the SHTF.  I concider myself fairly mechanically inclined, so with all the good instruction available I'm going to "go for it".

Real easy to assemble the lower.  Use the link posted in a earlier post above to aid in the assembly.