I opt for micrometers over calipers every day of the week. A 0-1", 1"-2" and set of depth mics. Standards are needed to check the accuracy of your measuring tools. The other tools have already been listed, except a reamer holder of some sort. Some will insist a CNC tool room lathe is what's required, but the work can be done with a manual bench lathe. A NRA sponsored General Machining short course will get you familar with some basic manual machining principals and then follw up with another NRA sponsored Threading & Chambering class. Both of these classes are part of the NRA Summer Gunsmithing Courses that are taught at several of the gunsmithing schools (Trinadad State Jr. College, Montgomery Community College, Murry State College, and a couple of others. These classes are taught by people who really do know what they're doing. Just google NRA Summer Gunsmithing for the full list.) Most other 'machining' classes taught at the local community colleges are centered around CNC equipment with little or no instruction in manual machining. Those classes exisit to 'get you a job' and most all machine shops are CNC anymore. A safe and proper chambering job should never be taken lightly.