Hahaha, things are different for beavers. Do some maiden experiments, if you target lace you'll need more control and less momentum, fruit wood gives you very different results on fine ones...

For the orifice and bearing you can either use some leather (a quite sturdy one, I use old machinery belts soaked in cow's feet oil) or wood (I have an oldie with wooden bearings, check Mathias wandel's old video on wood bearings), in a hurry to try the beast I'd go for a strip of pear wood ebonized with iron acetate ( I guess Americans call it nails in vinegar ebony wood).

The main issues with flyer's on those is the shafts size that changed overtime and it's usually a hassle to find bobbins matching with it (and I might have missed it but I don't see any pulley) you can rebuild a flyer around some bobbins or with a lathe user you can shave modern bobbins to fit.

For the tensioning system it's a good excuse to buy a violin reamer to add to your tool collection 🤣 those are great little useful things for worn out assembly points

Good luck, feel free to ask questions if you struggle with something

Oh yeah extra thingies: If you make homemade bearing paraffin goes a great job lubricating métal on wood a mix of carnauba/beeswax/turpentine does a very good finish for belt grooves, and in general btw, (side project number 76 look for roubo's polissoir wood finish, I don't know how American youtubers missed that one, it's still a very common option here) Flyer pulley's groove must be V shaped to grip like crazy whilst bobbin ones are U shaped to allow some slip, and filling those with paraffin before applying finish is a good idea

Thinking about it that's not the clearest message... Find a plan with the part names Ashford's trads are well documented and get what you don't have plus what should be changed 🤣