Don,
If you're at all familiar with machines, yes they contain enough information. Their purpose is to show how to make and use such a machine. They modify an existing lathe.
If you are not familiar with basic machinery, you can do worse than to get the late David Gingery's series on how he built a machine shop from scratch over a 20 year period; starting with the casting foundry. He takes some shortcuts, like using allthread for a master lead screw (not recommended), but you can learn quite a bit about how these things work and go together. Lindsay books had them when I last looked.
As to whether it is worth it? If you like doing things yourself, it can be. Would it be economical? Depends on how well you can scrounge and how many barrels you intend to make? The old lathe to serve as the base machine can set you back the cost of a number of barrels. By the time you buy good quality steel billets for making your own and ammortize the machinery over the number of barrels you intend to make, the savings may not be better than just buying finished barrel blanks from Douglas. Plus, you are still going to need a conventional lathe for chambering. So you are into some space and equipment before you are finished.
I settled for having a conventional lathe and buying rough-contoured blanks.
Nick