The glory days of vintage Rolex sportwatch franken-building are definitely history. But I disagree that Rolex movements are inherently problematic, or more so than ETAs and other modern mechanics. Properly assembled and maintained, Rolex calibers are nearly bulletproof. That is one of the reasons they remain so highly valued by collectors and watchmakers alike. I do not have a single gen Rolex movement that I have serviced that has either failed or not generally met its time-keeping design specs. And I believe some of them are now hitting the 20-year mark for wrist- &/or winder-time, if my own time-keeping skills are correct.
On the other hand, with Rolex virtually beheading anyone within their service network for selling parts to anyone outside the network (i.e., any of us amateur watchsmiths) and with OEM Rolex parts prices far out of reach now anyway, I would not recommend entry into the gen or franken Rolex arena today unless you are extremely well-heeled, patient, have alot of free time on your hands & enjoy the search.
As to one80's goal of building a 6538/5510, were it me, I would 1st decide how much I can realistically afford to spend on a franken that may or may not maintain (or increase) value over time.
If my break-off point is below $5k, I would find a reasonably accurate rep (with accurate case dimensions/construction) and replace the crown/tube, crystal & bracelet with gens (though you will need a bit of luck locating an appropriate gen bracelet for a reasonable amount).
If my break-off point is above $5k, I would start with a franken from Phong or MQ & have the watch properly serviced upon receipt (I have seen some truly scary things inside their watches). Then, depending on the overall condition of the watch (after a proper service) & the list of gen parts that are either in poor condition, aftermarkets or replicas, begin your search for OEM gen replacements. Be patient as the cost & time required will likely be severe & measured in many months &/or years.
Unfortunately, I think you are about 10 years too late to begin such a quest, but, as they say, there are exceptions to every rule & good things come to those who wait.