I guess it depends on exactly what your looking to accomplish.
If your looking to put together a top of the line, tack driving, shooting implement, I'd let a qualified smith handle it. Also if you're just trying to save a few bucks, don't, let someone that knows what they're doing handle it
However, since you're a self described do-it-yourselfer and if you're looking to do it for the learning expeience then give it a whirl. It could turn out to be worth it.
But keep in mind things can go bad in a hurry. Like you I'm a bit of a do it yourselfer, and I've put together some nice looking, decent shooting firearms, but I've twisted and cracked the tang on a $280 Savage action by applying more muscle than brains, and I've buggered up the threads on a $325 Pac Nor barrel by not taking my time and thinking things through. Learned something both times, but they were pricey lessons.:o
Hope this helps some
Ignorance can be treated with education, sadly there is no cure for stupidity.
You didn't mention what type of rifle you are working on, some like Savage are no problem, you probably have the tools you will need already, you will need a head space gage either way. If its one of the others you need a action wrench and a barrel vise as well as the head space gages.
Take your time when chambering and keep the reamer oiled, check head space often. Brownell's sells a few books on the subject that might help.
Their are other thing involved in setting up a tack driver including squaring up the action face, lapping locking lugs, and bolt face, pillar bedding stock, etc... THE COMPLETE ILLUSTRATED GUIDE TO PRECISION RIFLE BARREL FITTING at Brownells this book is one recommended to the gunsmith apprentices and covers most of what needs to be done.
Capn C, I wasn't trying to be a smart ass but the part about," a reamer that could be turned in the chamber, while the bolt is closed", kinda threw me. If you are talking about a "Pull through" reamer, the bolt will not be closed.
There was an article about this about a year ago in Shooting Times.
For the cost of reamer ($95.00 t0 $152.00), gauges ($75.00), barrel vice ($50.00- $200.00), action wrench ($25.00 - $200.00) and some time you can make a shootable rifle.
But not using a Kreiger, Bartlein, Broughton, Lilja, Chanlynn, RockCreek, etc., quality barrel. All these barrels will cost with in $20.00 of each other.
I believe Adam and Bennett, Pacnor, ER Shaw, Shilen, Douglas, and Lowthar Walther offer short cut or prefit barrels.
I believe you get what you pay for, both barrels and gunsmithing services.
A reasonable price for custom chambering a barrel, including cutting, turning, threading, chambering, headspacing, crowning, test firing, and engraving chambering/smith/neck dia is going to cost you between $150.00 and $250, depending on the quality of work done.