I have a RepRap 3D printer. It's a Prusa Mendel that I assembled as a kit for $800 a few years ago.I can give you some firsthand knowledge:
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I'm no mechanical engineer, but I was able to assemble it myself. It did take a lot of patience. There is a lot of instuctions online, but I found that the first few steps of the assembly were VERY well documented, but as I progressed through the assembly, the instructions gradually got a little sloppy and vague. It's almost as if the person writing the documentation had to pee really bad near the end, and was rushing through.
There is also a lot of mechanical "tweaking" that needed to be done in order to get decent build quality. The more precisely calibrated it is, the better quality of your output. I was able to get my layer depth down to 100 microns!
The repraps are meant to be easily sourced for parts, so they can be available to anyone. They are also pretty "improvable", so there is a lot of things you can do to make it better: Increase build volume, automated build platforms, auto bed levelling, etc...
All of the software that I use is available for free. You can buy some if you want, but the free stuff does the job too. This goes for design and production software.
It's good for plastic models: bust of Yoda, Model spaceships, etc. It's also great to replace easily broken plastic things, like a latch for a dishwasher, toilet paper roll holder, etc.
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Things it CAN'T do well: very small parts that need a lot of structural stability. Very small load-bearing clips are not reasonable. Most items that are expected to be under a load or stress will have an unusual girth to them.
Also, designs have to take into account GRAVITY, so there is often support material that you would need to remove after the printing is done.