I went through this exercise a little while ago. The first thing you must do is get a very clear statement of just what you want the resistance box to do.
You say precision resistors so you want a high precision box. But then you say switches and/or relays. Both switches and relays have contacts. And those contacts will degrade on relays just as they do on the switches.
So, is it going to be "precision" or not. There is no sense in using precision resistors if you use mechanical contacts that are going to have many milli Ohms of resistance and also will change over time. Perhaps mercury whetted, reed relays would get around the contact resistance problem. I don't know as I have not used them very much.
Then there is a box for use while designing circuits. In my humble opinion, such design tools do not need precision resistors; 5% values would be just fine. The idea of using a 1-2-4-8 sequence of resistor values is tempting. Thumbwheel switches can use such sequential values and you only need four resistors per decade, instead of 10. There are inexpensive, boxes like that available. But, when you spin those thumbwheel switches you are not guaranteed that the resistance value will switch smoothly from one value to the next. The 1 and 2 values may not switch out of the circuit at the same time so you may go from 3 to 2 to 6 and finally to 4. In many cases that may not matter. But in some it will. Perhaps it is just me, but I would prefer having the full ten values per decade and resistors, even precision ones, are the least expensive electronic parts available.
And as for an LED readout, WHY? OK, it does look neat. But with thumbwheel switches the value is already displayed on those switches if you took the trouble of lining them up. And you have the added trouble of either plugging it into the AC outlet or changing batteries when they run down. Again, to me, it seems like an unnecessary gimmick.
I wanted a resistance box that could be used to check analog VOMs. I choose 0.01% and one 0.05% resistors for good accuracy. But I did not use any switches. I brought all the needed connections out to gold plated, five way terminals. The resistors were each connected to a common and there are a number of terminals for the various values. Those five way terminals are my switch. It has only three values per decade in a 1-2-5 sequence and the only way that resistances can be combined is any two can be used in series so, for instance, I could go from 10K to 11K or 10.1K or 10.5K, but not 10.3K or 10.4K. But for checking and even calibrating an analog meter, this serves well. I have a set of test leads with gold plated banana plugs for making the connections to the meters.
And if I ever decide I need a switchable resistance box for circuit design, which is a totally different need, I will just buy one of the available ones - but probably a name brand instead of a cheap, no name import.