I bought the AN tool, it is quite inexpensive.....less than the price of a used cover if you don't have one laying in your parts bin....
But like Hobot I have done enough work without one not to feel it is as critical to use one as some do.
When located, which it is right now....the hole for the spindle has quite a bit of clearance, I suspect that you will not see the spindle forced hard against the tool unless you are being really brutal...which, if like me you have a chilled iron cam, would be rather foolish!
If you shift the tool enough to make the nylon washers and screws a problem, I suggest you should consider working on tractors and not Nortons :roll:
If your spindle comes loose in the cases it could be the result of long usage and real abuse, rather than the odd timing chain change!
It is just a locator to make you feel better, and if it saves a few timing covers being gouged out, its a good idea and worth the money.
Could you make a better one, sure, what could you sell it for and make a profit?