This bed took about an hour to put together. For the connectors i used speed-rail fittings, i was only able to find these online, but warning they are EXPENSIVE. For the 8 pieces i got (4 90 degree pieces and 4 foots) it was about $130. The pipes i used were 1 1/2" galvanized pipe from home depot, about $200 for that.
I topped everything off with two pieces of plywood. The bed currently measures 5 ft 7 in X 8ft X 2ft. The height gives a lot of storage but i think im going to lower it soon to make getting into it easier. I might cut the pipe shorter as well, due to the useless lip that acts currently as a clean clothing storage. With this size of bed, it wouldn't be hard to integrate some good storage.
I'm pretty happy with the result. If you are looking for cheap, build a wooden bed but if you want something that has that industrial feel and a lot of strength, then pipe beds are for you.