My First (big) DIY Project?

So you may notice that the title of this post is a question.  That is because I'm kind of a little "scurred" for the project that I may be setting up for myself.  Maybe my fellow design fanatics out there can help me out.  I found a GREAT deal on Craigslist on this simple, yet versatile Shaker style set.  This dresser is being sold along with two matching nightstands for a truly unbeatable price. 

I immediately responded to the post with the hopes of gearing up enough guts and energy to tackle this as my first Before & After project.  But, I gotta admit...I'm a little afraid that the task will seem too overwhelming once I have the furniture in my bedroom, thus leaving me with some nice-but-plain-generic furniture.  Then, I fear I will have to question why I ever let go of my white IKEA Malm Dresser.  Especially after seeing this Malm upgrade on Apartment Therapy:

So what do you guys think?  Any suggestions?
I'll do a Before & After roundup, but I'd love to hear your thoughts and suggestions!