We went to the flintlock because the wheellock was a pain to make, intricate, fragile, and expensive. Great ignition, I understand, but only the wealthy could afford one.
Building your own lock from scratch is a great project. I would build a few kits, work on tuning existing locks etc, before attempting a scratch built lock. This way, you slowly come to understand how they work, the geometry required to make it function well, etc.
Acer