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Cheap Woden Robot Arm
I found this pretty interesting. It might just work for my secret project that may possible start to come together after Christmas. makezine.com/2007/11/29/the-wooden-menace-robotic/
Sorry, don't mean to be negative, but kinda' looks (as you say) cheap and clumsy... Mind you, I would not attempt this myself, rather I would opt for a commercial version if one existed for superior control and functioning...
If built right, this could be a cheap(but somewhat sturdy) alternative to the overpriced metal arms we see today.