Doesn't look half bad to me, especially since the cost isn't much more than the cost of the parts. Often, when people do this kind of thing, they use it as an excuse to really ream the less knowledgeable customer. That's obviously not the case here.
I suspect you could make this work on a Sprite, but you might have to do a little cutting and modifying. Hard to say how much--but in the worst case, you'd have all the stuff you need without having to shop around for it all.