The Filastruder has just launched on Kickstarter. This pellet extruder isn’t vaporware, there are a bunch already out in the wild. No welding or machining required, just hand tools, though a drill press helps. There is also an assembled version.
http://www.kickstarter.com/projects/833191773/filastruder-a-robust-inexpensive-filament-extruder
Guess it was just a matter of time? Yay for homemade filament and more importantly (and usefully) plastic recycling 
Mh … dunno what to make of this. Filabot is still “in the making”, Layman does work afaik. Guess since the design is CC we will see a lot more of these
Damn it I wish I had a spare $300… 
It’s a derivative of Lyman’s, simplified so it is a bit cheaper and easier to put together without custom machining. Also there is the added enclosure. I think the more of these are out there the better so people can start improving the process of home extrusion. A lot more will get built if someone is sending out kits. There can be a couple of snags in sourcing your own as well. You need a pipe that doesn’t have a raised bead inside due to welded construction and I can’t seem to get one where I am, even from McMaster.
I’m in the middle of putting mine together from the kit. I got in at the very end of beta testing. So far, so good.