I've never owned or played a Phiga so I can't offer any substantive comments regarding his guitars. For all I know they're awesome.
I have been on the music forums for a number of years now and can paint a picture for your potential experience of dealing with a one man shop. Heck, sometimes it's even larger, established companies. Google Quinn Amps, Farndurk pedals, This 1 Myne, Morgan Amplification for just a few. The Gear Page (and RU Kind to a lesser extent) is littered with these stories. The following comments do not apply to Phiga specifically but rather custom orders at small/one man shops.
Are you prepared for the builder to:
1. take 2-3x's (or longer) the stated build time to finish your instrument
2. require money up front
3. stop returning your emails or calls
4. tell you your guitar is ready to ship and to send the remainder of what's due and then never ship the guitar
5. produce a product that is deficient or doesn't meet your expectations which requires even more money to fix and make right
6. provide no enforceable warranty
7. never produce the instrument
8. never return the money
Certainly there are lots of great small custom shops that produce consistently with little to no hassle. Personally, I'm fairly risk adverse so I wouldn't give money up front for a custom build regardless I think.
Hope I provided a little food for thought. Good luck with your decision/purchase.
John in San Diego