Finally, here it is: It's been built already a couple of weeks ago but it took me a while to find mudguards that I like and to fit them in a way so they look neat.
The build process was the easiest I've had so far with a D2C frame from China. My first impression as to how clean this frame is finished (apart from the paintjob maybe) carried through all the way to finalizing the build. No issues whatsoever. Brake setup was easy. No headset play. No problems with the BSA shell. The BB screwed right in.
I got a 1stgen HED Ardennes wheelset for an incredible 85 EUR. Inspecting it closely, I realized that these HED branded hubs are indeed just some regular old Novatecs. And sure enough I could convert the front hub from 15 to 12mm thru axles by using some Novatec end caps.
I also converted the rear hub from a Shimano HG freehub to Sram XD with Novatec parts I had still lying around (I use more or less only Novatec hubs on my wheel builds).
The bike is a beautiful Franken-build that works perfectly together: LTWOO gr9 mechanical levers with Zrace XG calipers, a Zrace (Rotor copy) crankset with an Aliexpress direct mount chainring, a Shimano GRX rear derailleur and a Sram 10-42 cassette.
Tires are Pirelli Cinturato Allroad. They measure around 38mm in width on these rather narrow 20 internal (by today's standards) HED rims.
Mudguards are Curana C-Lite with Ass Savers mudflaps. The set is very light at just shy of 400g. The entire bike as pictured including the rather heavy flat mount pedals, cages, garmin mount etc. weighs 9.1kg. The wheels weigh somewhere around 1750g. It could easily be half a kilo lighter but it's not an important factor for me.
My significant other rode it a couple of times already. It fits her well and she loves it.
My goal was to build a modern allroad randonneur kind of bike that is versatile and capable for someone getting into riding. This frame fits this purpose perfectly. I can absolutely recommend it. In fact if I didn't own a custom steel gravel frame already, I wouldn't hesitate getting another one for myself.
The fact that it still has a round seatpost and a regular bar and stem obviously makes it a lot easier to adjust the fit in the future if needed.
The integrated fender mounts are a cool touch that other frames don't always have (especially not down inbetween the chainstays).