Thanks, Bill...
So again, there's not that much involved here and the materials are fairly affordable. The worst part expense-wise is the blank arms and I just ordered some more from Mura and it's like $15 a pop for them (but they are excellent and the result is a better arm). The rest doesn't amount to much... maybe another buck or two per arm for epoxy, sandpaper, Kevlar, and magnet wire. Even the wire was only like $15 or so (I forget) for a one pound spool and that's a LOT of wire.
For double winds (like the #26 dbl pictured earlier in this thread)... you simply unroll enough wire onto a second spool and then feed both as you're winding. It's a little more difficult to keep things straight and neat... but not too bad. You can come up with your own signature winds... mark the arm by engraving it or epoxy-on a tag and really have a blast. For the whole retro thing, this all seems like such a natural... this was after all the way things were done before these arms became commercially available.
Finally... when you get consistent results doing this, treat these arms right and set up the motors properly. I just keep a C and D can motor handy for trying these things out and those cans are sloppy (loads of play, loose tolerances, used brushes, and beat springs), but really set-up well... these things would no doubt perform significantly better. I hope all of this helps the one or two (sigh...) folks who may be interested in trying their hand at a really "retro" aspect of slot car building, especially since it took me all day to take the pictures of the process (I'm a miserable photographer).
BTW... thanks a heap to Cheater for making the photos brighter and clearer so people could see the whole deal better!