Well, (Amorti this is also for you too because you asked....if you read this post)
Race loom or not it depends on whether you want to make it a good looking and quality job OR a cheap but nevertheless functional one.
In the second option i cannot say much because i never follow this path when it comes to repairing/restoring (If i have the money i will do it otherwise i will leave it as it is).
In the first option, be prepared to put some real cash on it.
FIRST: The wire.
I chose silver-plated Teflon wire (VERY expensive...I know it is not a rocket i just like a quality job

) i buy 2 25feet at a time (you don't have to buy everything in one go...at least i cant). I am buying it from:
http://www.bulkwire.com
You will be needing from what i have measured until now 4 gauges : 12AWG, 14AWG, 18AWG and 20 AWG multiply it with the variety of colors you will be needing.....

YES a lot of money and we just begun
SECOND : The Blocks.
In this case i also chose to replace the 17year old blocks with newer waterproof ones, like the ones that newer bikes use. I found a big variety at
http://www.easternbeaver.com. I WILL NOT be replacing the fuse box because I found the connectors (Yes amorti i did

)
http://easternbeaver.com/Main/Elec__Pro ... terms.html look at the botom of the page!!
Again, a lot of money. This time it is a number of expensive waterproof blocks with some extra connectors (Just in case

) All these blocks come with their connectors you just have to buy a few more.
I have not found ...yet the CDI block and the starter solenoid block.
I consider these to be near impossible to be found.
Nevertheless you can get the EXACT CDI connectors for the CDI block from RS electronics. Their part number is :
679-5741 and they are sold in packs of 100pcs.
THIRD : Bullet and other type of connectors.
A good place of sourcing them is :
http://www.sgmotorsport.co.uk ,
http://www.easternbeaver.com and other on-line shops (cannot mention all) . Just buy them tin plated (They have better resistance properties to corrosion).
FOURTH : The final sleeving of the loom.
Electrical tape is out of the question to begin with

This was a mid 80's practice when heat shrinkable tubes where used only by NASA.
Here
http://cableorganizer.com/, here
http://www.wirecare.com/ and a few other places you can find sleeving solutions.
And to complete the masterpiece....heat shrinkable boots like these :
http://www.prowireusa.com/products.asp?dept=37
FIFTH : Tools
In my opinion, the only GOOD and EXPENSIVE tool you MUST have, is at least the crimping tool. Every other tool for this job either you already have it or they are not expensive.
I am already on the job and have not completed it, it will take me months to complete...I just cant wait to see the outcome, so i cannot answer questions you might have. (I mean i do not know more than you already know).
Hope this helps, this what i have found out until now.
If i have something new i will let you know

And a last thing......PATIENCE
CHEERS