I had phyto cultures going in my garage for a little over a year. It's very easy and can be done with pretty much no special equipment. I just had a series of 2L soda bottles, an air pump & shop light. Trust me Ken, you have room for it. I got all my stuff from Aquaculture Supply in New Orleans, whose website I can't seem to find anymore. But they have just about everything you could think of from lab glassware, to cysts, to 300gal troughs. If you're serious, Jon, I still have a some unused stuff you might as well have for a frag - I'm not using it anytime soon.
I've tried culturing DT's, and yes, it works with a couple of caveats. First of all, it doesn't really stay DT's (which is a blend of several different algae species), it will quickly become a mono-culture. But this isn't really a big deal. The bad thing is that it just isn't as sterile as the culture disks you buy (basically a starter grown on a petri dish). Over time (a short time) your DT's culture will become contaminated with diatoms or some other obnoxious pest. This was my experience anyway. But maybe you can keep it cleaner, it's worth a shot.
I planned on doing rotifers, but never got around to it. I have some resting rotifers and roti-rich and stuff I never used either. The thing about roifers is that they're a major PITA!! You have to keep the cultures meticulously seperate from your phyto, otherwise they will contaminate it and eat you dry. You also have to keep their numbers in check, otherwise you won't be able to sustain their feeding requirements and the whole culture will crash. If you're just doing it to feed your corals none of this is a big deal. If you've got hungry fry that are relying on the food source, it is a big deal.
From what I've read, pods are much easier than this. But while they'll multiply pretty well in your tank, you still need to put more effort in if you want it to be a culture that you're doing some serious harvesting from for food.
A great book is the Plankton Culture Manual, by Hoff & Snell. You can probably buy this from any Aquaculture supply house. It has great details and drawings about systems for just about any little critter you can think of.