The only Question I have is What do you want the Gen. for? If you want to use it for lighting, it works but not well at speed. It tends to come apart. I know from experience.
I have however perfected a rather inexpensive (if you have an old cell phone) lighting system. You obviously are somewhat mechanically inclined or you wouldn't be asking about something you can build. Here's a link to my light set up if you have questions just let me know and I'll help you out as much as possible.
And Yes I still use them and have even added a push button switch from a Flashlight.