Comment This is just one part of a group effort (Score 3, Interesting) 40
I recently attended a lecture about homebrewing a spacesuit. A professor from Portland State has always been fascinated by spaceflight and high altitude balloon flight and has designed a spacesuit. His group is called Pacific Spaceflight (pacificspaceflight.com). During his talk, he discussed what goes into designing a spacesuit and demonstrated the prototype suit they designed by pressurizing the suit (and the person wearing it) to 1-2psi above the ambient atmospheric pressure.
From what they learned building the prototype they will build the flight version. Their suit is at about the tech level of a spacesuit from the Mercury program.
One of his main talking points was that if everyone concentrates on one aspect of spaceflight, then it can be done affordably. Copenhagen suborbitals is working on the launch vehicle and capsule, he's working on the spacesuit. Others have other pieces of the puzzle.
The Pacific spaceflight suit is the suit that will be used for a suborbital flight on the Copenhagen suborbitals vehicle hopefully some time in 2015