I have yet to attempt a complete build of a rod. Been tempted a few times, but just never pulled the trigger on it! I agree with RipTide about fixing up an old rod, I have a couple of glass fly rods, and all I did was replace the guides on them. The handles & reel seats were fine. Both rods were yard sale items & I've got less than $50 tied up in both of them including the new guides.
They're fun to fish with too, but do cast quite a bit differently than modern graphite rods. Whatever you decide to do, best of success with it. Keep us informed on the progress of the project!