To do the dipping isn't too expensive. Buy the lacquer and a crown dip tube (the short one) for about $30-35 and go for it. The cresting machine... now that's where you can run into some money, from $100-150. Unless you've got a low rpm motor, a rheostat and scrap lumber and spare time on your hands to make one. Go check out the prices on dip tubes, lacquers and cresting kits at 3 Rivers.
www.3riversarchery.com
You can get a fletching jig from dang near any dealer. I like the Bitzenberger but I've fletched many, many dozens of arrows on a JoJan.
As to whether you'll get the 'precision and quality' of what the pro shop turns out, that's very dependent on a number of factors. How good is the guy at the pro shop? How good are you or, at least, how good are you capable of getting? Like everything else, you get better with practice.
Then, some of the arrow wraps Jeff mentioned really do look pretty sharp...