I've got 105 5800 11 sp 50-34 double. Would like to change out big ring for 46. Can't find a 105 level 46t but it's available in Ultegra for $120! Any other options out there?
The outer rings on the Shimano crankset are always way more expensive than the inners. Often you can get a complete crankset, including bottom bracket, for not much more than the outer ring. Especially so from some of the UK vendors. I'm pretty sure you can get a 5800 crankset for less than $120. So buy a 46/36 and then switch out the 36 for the 34 from your current crankset. Well, it looks like I may have to take that back. The 105 crankset is much less than $120 but it looks as though it may not come in a 46/36.
Another option then would be to get the Ultegra 46/36 crankset and switch out the 36 for a 34. I've seen them in the $140 to $150 range. And they are lighter than the 5800 and I'm sure stronger. Or you could buy a 34 for it and keep the your current crankset whole in case you want to go back to the 50/34 - perhaps for group rides, flat rides, etc.
That said, going from a 50 to a 46 in front doesn't have a huge impact on gearing. It's about equal to 1 1/2 teeth in back. Of course, it may be helpful in the middle part of the cassette.
I have a set of CX70 46/36 cranks on my Grade. They are presumably Ultegra level and shift oh so smoothly and just as fine as the 5800 crankset that I have on one of my road bikes. Both are amongst the best front shifting that I've experienced.
I did exactly what DrSpoke mentioned when I built up my FCX frame last month. After looking at the prices, I got an Ultegra 46/36 and a separate Ultegra 34 ring and swapped it in. Shifts just fine.