Lure Parts Online (formerly called Stamina) Jann's Netcraft, and Barlows are good sources of components.
I am loving the challenge of making balsa baits right now. I always dug the Rapala Fat Raps and Risto Raps, which are both balsa wood. It can be a little tricky to work with, but the rewards are great.
PVC is a super good idea for bait bodies though. Really user friendly.
Good luck, post up some bait porn when you get done.