I know this has been done before, but I'm finally undertaking my cheap and easy conical fermentor build. Pretty excited. Been keeping my eyes peeled on craigslist for a cheap refrigerator that I can stick this puppy into so that I can use it to lager.
Just ordered a 15 gallon tank from Rural King (www.ruralking.com). The 15 gallon full drain inductor tank was only $61.99 with FREE SHIPPING! Can't beat that, should have it in a few days and will amass the rest of the needed hardware while I wait for UPS to deliver.
Also got the 2 to 1 polypropylene reducer bushing at Rural King. Planning on a short pipe nipple and a cheap PVC ball valve on the bottom for my dump valve.
For the side port I'll be using a 1/2" bulkhead fitting with a stainless ball valve and hose barb.
Many thanks to the following sources for the inspiration, will update with pics as my build proceeds.