I made one a few years back for my ML7. It is a challenging project but worthwhile. I had a set of change gears from something else non Myford, but of the correct pitch, so I didn't use the original set. I think this is preferable since you still have them for special setups, and I can use them with my differential dividing setup. I had to rebore and thin those gears. I had to cut some gears as well, but I have all I need for that.
Ideally you want milling facilities, I think you can in theory do all the machining on the lathe, but it is much easier on a mill. Since I have shapers as well as a vertical mill, I was well covered for that.
I've had a few minor problems from time to time, one of the gears shed a tooth at one stage, and the planetary gears for the fine feed didn't stay loctited to the little shaft, but that has a pin now.
As I recall, the back wall does get pretty thin where the clearance for the gears is, but that does not cause any problems. Setting up to line bore the holes is tricky but works out OK.
regards
John