Heh, this guy is actually one of those folks whos website I watch. You all may remember him as the gentleman who started to build a cruise missile a couple years ago before suffering a barrage of mysteriously timed tax audits.
He was also on an episode of Junkyard Wars, using his pulsejet expertise to make a racecar, if I remember correctly.
Oh, and yeah, I've thought about it. I'm still looking for an expended big ol' turbo to convert into a jet engine, because I gotta love that sound!