even though u can make the neck caul, u can just fret ur neck before u contour the back of the neck, thus removing the need for it. Theoretically, u could make a guitar with a basic set of drill bits, some chisels, and alot (and i mean alot) of sandpaper, and just use a small carpenters square to check ur work. the dremel is handy, but so are a good pair of plyers And don't foget to get one of those rubber sand paper holders, they kinda fit in ur palm and are flat on the bottom, those things are great!
if it walks like a router, talks like a router, and knows the secret router handshake..... well... u found urself a deal!!