Hand tools are fine. That said, the current guru of hand tool use, Jim Tolpin (
The New Traditional Woodworker and other books/articles) has a bandsaw, drill press, and wood lathe in his shop. My little home shop has a bandsaw and lathe only. That 14" Grizzly bandsaw is my workhorse.
Now there's absolutely nothing wrong with wanting to give total hand tool use a try. I just wouldn't try it if production and profit are anywhere in the equation.
The "hyperkitten" link to the frame saw is a good one, but you fer sure don't need to buy into the mythos of half-blind dovetails and such. It's a load of $#@* and a time waster if you just want to get a job done and not necessarily impress all the visitors to your shop. The frame saw is the way to go for ripping. You just need to remember that it's best used with the stock held vertically in a vise. Cut halfway down, reverse the stock and cut back to the middle from the other end.
Two words: SHARP, and SLOW. Sharp is self explanatory--or should be. Slow--don't go after it expecting to get the job done an anything like power tool speed. Think "Zen and the Art of Motorcycle Maintenance." Get into the rhythm and enjoy the journey. Or buy the bandsaw now.
You will need a proper RIP blade for that frame saw. You can find them here and there from hand tool suppliers. ECE has bowsaws, which I don't think you want for ripping. It puts the blade on one side of the tool and discourages first-timers trying too cut to a line. The centered blade of the frame saw is a joy to use by comparison. Here's one place to get a new ECE rip blade.
http://www.adriatools.com/ece/saws/bowsaw.htmlOne final disclaimer: I have NEVER had any blade come to me SHARP--plane, chisel, saw, nothing. Well there was one guy, but he's retired now. You can do worse than the on-line saw sharpening lessons/advice, and sharp tools make all the difference. Powered shops seem to think horsepower is a substitute for tool maintenance.
Get a blade. Build a saw from good wood. Go for it. Come back and tell us how it worked for you.
Okay, a story before I go. When I started butchering wood in the '60's, I worked for a time with a carpenter who was 67 (my gawd, that's how old I am...) and had started his apprenticeship when he was 15. When he arrived at his first jobsite the boss pointed him at a pile of rough full dimension Doug fir construction lumber and a pair of sawhorses. He was handed a 4-point rip saw and set to work. He was working six 10-hour days, and didn't touch another tool for the first three weeks. Meditate on that as you cut out your stock.