Re: Cost & reliability
Yep. I took my phone apart recently (three years old and the home button was getting iffy). The iFixit instructions were very insistant to never touch any of the shiny contacts, pins or socket, as the tolerances are so tight that a grease film will likely kill the conductance - and I did indeed have to open it up twice more to clean off the wifi and the touchscreen connectors.
The other thing with this is that most of the content of a phone is battery, plus some aerials and the interconnects. The CPU/flash/comms electronics are a tiny tiny sliver. So it's not a set of reasonably sized lego pieces as per the pic, there's one huge lump for the battery and a few bits'n'bobs.
Those bits are seriously tightly packed, with chippery and aerials shaped and overlaid for best space usage. If you split out the cellular radio and its aerial, then the bluetooth and its aerial, wifi, GPS, NFC... you'll end up with a device double its size of a normal integrated phone. If you're assembling a 'phablet' then that's not fatal, but anything under about 5" screen is probably not possible.
Take a look at any disassembly guide for a modern phone, and try and work out how to break that into functional lumps. There aren't enough to make a modular assembly worthwhile, I don't think.