For the pulley setup, was thinking of these: https://www.amazon.com/dp/B003VOX1XU

There are even cheaper ones (Harbor Fright sells them for under $10 each) but I liked these because they seem to come with a rigid aluminum beam to mount the stationary pulleys from, which seems like it could work well with my 2x4 frame idea.

May depend on the work required. I've seen people use lightweight hoists to get a bike off it's wheels but it's less stable than a work stand. https://www.amazon.com/2007-RAD-Cycle-Products-Highest/dp/B003VOX1XU