You might say that I have a thing for "project" horses. I don't have the financial ability to go out and buy a finished horse, or to buy a greenie and send him to a trainer until the job's done. Both horses I've ever owned were purchased more or less saddle broke (my first horse better broke with a lot of miles under him, but with little "polish"), and all following training done by me, with occasional lessons and lots of research. To me, the training, work, and love I put in to my boys is more rewarding than the competition that I could be doing now if I'd bought a finished horse. I've never taken a baby and brought him from the ground up, but I'd like to try when I've had more colt starting experience.
To more directly answer your question:
I bought Scout as a very underweight pony of unknown breeding and uncertain training level. He's come a long way since last May, in both health and training. He now has a solid w/t/c under saddle, is soft and willing through transitions, learning lateral maneuvers, and has good ground manners. He has a long way to go to be finished (then comes the question of whether a horse is ever really "finished"), but he's made a good start. I currently do pleasure riding and basic dressage schooling, plus some trail riding. My future plans for him include progress with the dressage movements, some small local shows (hunt seat, maybe some dressage when he's ready), and generally keep enjoying my pony.
Be sure before starting a young horse with big plans later on that you either have the experience to start the colt and build a foundation, or have an experienced trainer to help/guide you. The same goes for later training, as you and your horse progress to and through choosing and training for a specific discipline.
What do you mean? I'm just curious.
Coming from several years of 4-H where everything had the word "project" as a prefix, including the horses, maybe we're just thinking of a project differently.