Hi Bedlam,
I know you are looking for a cheap blank for the first effort, but didn’t say what was cheap. I know you didn’t ask about a blank, and I don’t want to kidnap the post, but since you didn’t say not to recommend a blank, I will suggest one.
The first rod I built, and I still need to add a hook keeper and take a picture for this board, was from a 7’6" 4 wt forecast blank for about $40. Not a high dollar blank, but it made a wonderful rod to fish with, and I truely love the rod. (However, a 7’6" 4 wt is one of my favorite weights, maybe my very favorite, and lengths for fly rods. I had broken my 7’6" rod the previous year, and so was pretty motivated to come up with a replacement.)
At any rate, if $40 is within what you call relatively cheap, I think you will like the rod you end up with. You can buy cheaper blanks, but the blank is the heart of the rod, and you spend a significant amount for the rest of the parts, so for me it was worth spending $40 for a first rod to end up with a really nice rod that I really like. As was mentioned above, the rod doesn’t have to be perfect or pretty to fish well, but I was very satisfied with my first effort, even though it does not remotely approach the beauty of the ones that Kevin and some of the other posters build.
Concerning your list, it looks pretty good, but of course you should consider the list of items that the other guys have pointed out above.
That said, I built my first rod with quite a bit less in the way of stuff. You can get into rodbuilding for signficantly less money.
Look at Al Campbells rodbuilding lessons that are under rod building on this site, as well as the 100 rod building tips at the top of the rod building bulletin board. You don’t need to be out much cash to get started.
You can get by without a rod wrapper and without a rod turner. Those things make it easier, but you don’t need them. For a hand rod wrapper you can us a carboard box with two “V” notches cut in it to hold the rod, and run the thread between the pages of a closed book. Instead of a rod turner, you can lay the rod in the box, and rotate it every few minutes to even it out. I would recommend you pad the “V” notches with a bit of felt from a fabric store.
You can use the barrel of and old pen, the back of a fingernail, or a polished popsickle stick for a burnisher. There are rod building video instructions on at least one of the rod blank manufacturers and on Youtube that show virtually all of the rod building steps, so you don’t need to buy a CD. One on youtube lists each step separately, and the total runs nearly two hours or so.
In other words, to start out with, you can do things on the cheap, and still end up with a really good rod. You can then add stuff as you go along.
The key is to attempt to take your time and do things carefully. I am in the process of building a nice rod wrapper, and will set it up so as to be able to add a rod turner, to be able to put the turner on the wrapper and to take it off depending on where I am in the process of building the rod, and will build it for a fraction of the cost of buying one. When I get done it will be as nice as the ones you buy, but a whole lot cheaper.
Regards,
Gandolf