What those neither of those give you is an up to date index, which is why small search engines still need Yahoo and Yandex's APIs. I'm not sure any free resource can match the speed at which big companies can index the web.
IIRC google used to scan different pages at very different frequencies. Quite possibly because it has assigns pages into subsets every time it indexes.
The real problem imho is building a distributed index and fighting spam. Both are incredibly hard problems to do well and very expensive. Hence so few are trying to do it.
I tried building a small search engine with a very basic algorithm and it worked very well for 90% of searches.
I agree with you in part but I also believe if you got the others 100% right you would have a respectable engine by itself.