I have just come across this page that describes the progressive wiring technique.
The author managed to build an MP3 player using a normal prototype board, with mostly SMT parts, some ICs are as complex as 48 LQFP. The trick is to connect the parts with thin enamel wire one by one. It seems to be a very attractive option as I don't have room in my flat to setup a PCB tank and want to avoid spending money to make the PCBs professionally.
The technique seems to be very good, but, it does not seem to be a common technique when I search the web. I wonder if anyone has experience with this. Also, the polyimide (Kapton) tape mentioned in the article is hard to locate in my town. Any alternative solution for that?