I've never built that kit, and have only built one pistol from a plank. I found it very enjoyable as the over all size being smaller, you accomplish more quicker. However, I found that a lot of my tools seemed too big for the project, especially while shaping the inside curve of the grip. Also the carving was easier with smaller gouges. So I say take a look at your tools to see of its something you can do with what you have. Just some of my experiences. But I say go for it!
Greg