Pretty much right. It's been a while so I can't remember how much it ended up costing and I really haven't had the means to try it all again. I would recommend, though, that if this is the first time making wings and you have the extra funds - you should follow the tutorial made by Rachel with balsa or some sort of scrap wood so that you get the feel of how they work, you have a base to follow, and most of the common mishaps get found out in the beginning. Basically, it's practice before moving on to more expensive materials. The other reasoning for the balsa is it is light and pretty durable as long as your not planning on slamming them in to every other object you come across.
Let me know how it goes ^^