I found a couple of A1200 motherboards on eBay for cheap, only 5 EUR.
If you have an old PC tower you don't use anymore, then you can build a A1200T, the only thing you need is to get a diskdrive to work with the Amiga. If you then take that harddrive from the same tower, you only need a 2,5" -> 3.5" cable, and of course the motherboard.
Mail me if you need more info on how to do it, but as I see it it's the cheapest way. Actually I just saw a mobo to 2,49 EUR, so the most expensive would be your hdd cable!