No definitely don't think it is simple or lacking the recognition of risks with botched brake parts. Small parts and small lathe (6" x 18") has me thinking its a reasonable project to take on to build some skill. I also know of some freinds of freinds that are career free hand machinists I also thought I'd see if I could push some $ at to come over and look/help with appropriate setup. The wheel cylinders (7/8" front, 1 1/5" rear) I think would work great with a full chuck to tail stock line bore setup with standard over the counter tool holding options. The double barrel master (1 1/8" clutch side, 1 1/2" brake side)concerns me more as hoggyrubber mentioned as I don't have any good concept yet of how to best attack that setup. Might still send that out versus trying to rig a good tool hold for it. I also still need to find out what the appropriate wall thickness should be. The master would need to be thicker than the wheel cylinders to accomodate cutting the grooves for the snap rings.
It seems that you are beyond the point of thinking you can do things because it looks simple. If you realize that you have to practice on some junk, you should be just fine. I'm sure you are to the point that you can measure and take small cuts and measure again.
