I have sewn my own shorts and jerseys. I have been very happy with the jerseys. The fit is great and I can do whatever I want with the style. They are long enough and the sleeves are a comfortable length. I usually add a zipper pocket for stashing my ID and some cash inside one of the back pockets. Wicking fabric isn't too hard to find, but I like colors that can be seen and those are hard to find.
As for the shorts. It's hard to find wicking fabric that has the stretch and weight that I would like. I have some from Seattle Fabrics that might fit the bill but I haven't tried it out yet. I have a chamois I purchased from Seattle Fabrics and that is no where near as comfortable as the ones in my purchased shorts. I have been wanting to try bibs but don't want to spend the money in case I don't like them. I've got a pattern and some fabric so I just need to get around to making them. The pattern has a piece for a chamois made out of polar fleece so I may give that a try.
Jerseys are easy to make if you are comfortable sewing with knits. A serger is a plus but not necessary. So go for it and have fun.
Kathy