I am just a hobbiest and have no ambitions of taking it any further than that. I can see the value of making one yourself, both pride and finacially. I am eagerly waiting the equipment needed to do them on my own. I have only been doing this a year or so and I am on a very tight budget, so equipment comes by slowly. I would never think twice of a Prather front, fullsplice, ringwork, of any part that did not come off of my lathe what-so-ever. All I care about are looks, playability, and quality. Where it comes from I could care less. Not trying to argue just don't agree with the masses I guess.
You make a comment that I find the most interesting. You say you are just a hobbyist. Almost all the cuemakers are hobbyists. I notice you have sold quite a few cues on ebay and are making a few bucks at it so it is a little more them a hobby to you I think you like making cues. But here is my point. By being a hobbyist you can actually do maybe better work then the person needing to get X number of cues out to meet the nut. It doesn't matter how long it takes you to build a cue and you can be almost fanatical at it as you teach yourself the art. Bob Manzino comes to mind. He was building cues that are prized with a minimal of equipment in a shop the size on my wife's walk in closet. You should not use the "I can't because I don't have the equipment" excuse. In regard to making points if you have a lathe I can show you a jig you can make for about $10.00 that will cut perfect point slots.
In fact once it is set up, it will take maybe 20 minutes to get it in place, you can make a batch of pointed nose piece blanks in a few hours. If you make say 20 nose pieces you are talking about $1500.00 to maybe $2000.00 worth of parts using Prather prices. You also have control of what you are doing, use your own colors, better slection of woods, experiment and so on. I would never knock Prather there is certainly a market for what he does but not for everyone. If you want to make cues you want to be the cuemaker, not paying money to someone else to do what you can do just as good. "YES", just as good, or better.
After reading this thread I actually went looking last night for a point jig I made maybe 30 years ago and I found it. I never throw anything away I guess. I will post a picture of it as food for thought. Yes, equipment is fun and there is certainly certain pieces of equipment you need to build cues but a lot of it can be built by yourself. This is not in the lest a debate just a discussion that is why you come here.
Interestingly enough regarding what a professional and a hobbyist can do. I built a new set of stairs to the second floor of my garage last year. I could have bought a stringer from Home Depot and some wood and pretty quickly build the stairs. The factory ones looked like crap though so instead I bought a couple of 2 x 12 x 12's and built the stringers myself. I then built all the risers and steps and rails. I cut everything oversize by an inch and finish cut them on the band saw.
I would say everything fit within a 1/32 to a 1/64 of an inch. Point is, as a hobbyist carpenter not having to worry about time frames or labor cost I built a set of stairs a professional carpenter would never realistically have built. Don't sell yourself short as a hobbyist. The information is out there, materials available and there is no reason you can't build a cue as good as anyone. Cues that when you run into them years later you will be proud to say you built them.
I don't know, maybe it is just me but ingenuity seems to have gone out of style. People are used to just paying for everything and don't get the same pleasure we used to get years ago doing things ourselves. I remember when I was like 16 my friends and I spending like 48 straight hours switching bodies from one car to another we were building. Today the average kid can't change their oil nor do they want to. Part of the REAL reward of building the cues, or doing anything for that matter, is in the doing. Again, this is not a debate just a philosophical discussion. Neither side is right or wrong, they just have different wants and objectives and maybe philosophies. I will post that picture later.