I think you will be. What have you got to lose? If you have color pattern knitting down, all you really need to master is following the chart, working with the smaller needles, thinner wool, and cutting.
Oh, yes, cutting. There are a million ways to explain this, but since you don't have a sewing machine, I'd suggest doing Meg Swansen's Crocheted steeks, described in her books and on some internet tutorials.