Sure will save you money dude... is the way forward in repairing stuff.....
saved just over a hundred doin my brakes and £200 doin suspension.....next is the timing belt. my other half has changed one before and wants to do it.....now that will be the biggest saving of all.....
its good to have a tinker now and again.....all helps understanding how the car works....
good luck with your master cylinder....let us know how it goes!