I now know more than I want to know about carbide parting tools, from everything I have seen the Easy Wood version is knockoff of the metal cut off blade by Aloris. If you research Aloris and see their prices, you will buy the Easy Wood rather than make your own. On the other hand their are cheaper versions of the Aloris tooling. Still not cheap, but I would consider it a little more reasonable. Here is a link to the page in the Enco catalog.
http://www.use-enco.com/CGI/INPDFF?PMPAGE=179&PARTPG=INLMK3&PMITEM=422-3651Now if I was going to make one, I would first go to a machinist, and pick his brain for the best "parts and pieces" to make what I need and for what I would use it on. I think, and this is not a well informed thinking answer, it is a fly by the seat of my pants guess. That if you study this a little more, and you have someone that understands all of these numbers and how everything works together, you could put one together for less than $100 that will be as good as Easy Woods. But one mistake in ordering and you may spend $200. I also think there are better options and still use carbide, maybe someone else can find it.
Marvin