Hi markaroni,

my thoughts are yes - but the frets will also need to be levelled, crowned, and polished (like mentioned in the Pitbull Guitar Manual).

I use a
Notched Straight Edge to check that the neck is straight, then
12 inch radius block with 600 g wet and dry paper (others use a straight edge to level frets), then
Fretboard protectors (or masking tape) with the
Fret Crowning File to re-crown the flat tops. Then I check that there are no high fret point with a
Fret Rocker tool.
Then I polish with steel wool (or micromesh) using the fretboard protectors.

I purchased a cheap "guitar care kit" (A$30 from ebay) which contains the rocker, crowning file, protectors (plus action gauge + more) - it seems to do a good job - but I aim to buy better tools as I need (or can afford) them.

Not sure if the Pitbull tools are better quality or not! I did get the 12 inch radius block from them.

If you intend to build lots of guitars I would definitely get the tools. Also a good fretboard (and frets) makes a big difference in the play-ability of the guitar.

My 2 cents worth. Hopefully others will add more insight!