Building your own wheel = AWESOME!
Those look like good plans. Cute wheel too. I say go for it!
Although the picture in the plans and of the wheel doesn't show it, that design is for a double drive spinning wheel. My personal favourite style.
On the plans, page 16 and 17, with the part they call the flyer bearing (orifice), might be a bit challenging. It's a metal piece that will need to be manufactured somehow. Usually, this is made as one piece with what they are calling 'flyer axel' (flyer shaft). This makes it stronger and easier to ballance the flyer. As two pieces, it's easy to get things out of whack which makes spinning difficult. The orifice also needs to be smooth where the yarn goes. (I put the common, modern, North American terms in brackets for those parts. There's a lot of different nomenclature for spinning wheel parts around the world and over time. No single naming is correct.)
The flyer is going to be the hardest part to get right. It needs to be well balanced or spinning becomes a chore. It helps if you have
experience spinning on a flyer wheel so you know what it feels like to spin on a well-balanced flyer. The other challenge is that there are never
enough bobbins. One solution for this is to buy a commercial flyer and build the wheel around that. That way, you can get as many bobbins as you like -
https://www.ashford.co.nz/flyers/product/standard-flyer-single
But of
course, that's not necessary. Lots of wheels have home made flyers.
Another great wheel to make is
a spindle wheel. Spindle wheels can be much faster and more efficient than flyer wheels, and you don't need the fuss of bobbins.
here's a pdf of a really basic spindle wheel.
I really like the Indian style spinning wheel. It's much faster for cotton and silk than any of the modern wheels out there.