I recently started building my own frames and aside from using Framing4Yourself.com , I found The Picture Framer's Grumble forum to be a great source of information for anyone interested in making their own frames.
http://www.thegrumble.com/
An old Morso, a set of framer's clamps, a medium-good matte cutter, an Alvin straight edge, a tape measure, a glass or plex cutter, a sharp Xacto knife, and you're in business. Oh, I forget the underpinner, gotta have one of those, it should be a good one, don't scrimp. And the air compressor to run the underpinner, don't forget.
Random thoughts about framing for yourself...
Your living room is nothing more than wasted space in its current use.
When your garage fills up with boxes of moulding, you can still lean about a dozen against your (former) living room wall.
You don't really need any leisure time at all, and that TV is wasting the space it occupies.
Remember when you used to go out and shoot whenever the mood grabbed you? Best to just forget about that.
Watch your mouth when there are children in the house.
If you are using the wrong table height, your back will hurt like Hell. If you are using the right table height, your back will only hurt like Purgatory.
Try not to cut any fingers off.
Memorize where the Bactine and the bandages are. Above all else do not bleed on the art, and only then worry about your torn flesh.
Know the shortest route to the emergency room.