As you get on making them you will find you get better and better as you go, the first ones i made the rod was a bit lose but after making about 300+ to sell on ebay i got them down to a fine art, you will need to get the right size drill bit to bore your hole, see if you can get a kit with both the drill bit and the Tap.

You will need to do a good job at getting the hole center and strate as well, again its tricky but i make these with hand tools and a vice so im sure you will be ok just take your time, post up a pic once you'v made one.

I'v seen loads and loads of DIY machines use delrin as the drive nut, even the top dogs who can machine ali use a delrin insert and so im told some gearbox's use delrin as well.

Good Luck !

CM