Just 'cause I have time on my hands:
IMO, it all depends on how much time, ability, and materials you have access to coupled with what specific equipment you want to run.
I've built systems that are similar in theory, modifying old machinery to operate off of new controls or doing away with obsolete items that have failed.
One was and electric pump setup like most lifts use - when all the electric valves on it became NLA and gone bad, I plumbed in manual control valves and put a momentary switch on the pumps drive motor -- hit the switch and you have oil flow, pull a handle and operate that function.
For what the OP described, there's a lot to consider.
Hose / fittings cost is a big consideration: If you get quality stuff, the prices start around $7 / foot (1/4" hose) with ends being around $10 each. You may find chinese junk supplies cheaper, I dunno, we only sell / deal with Parker brand stuff. Maybe you can find old stock pre-made hose for nearly nothing and make 'em work with some time / patience.
Different items spread out around a shop could easily cost thousands in hose / fittings / adapters just to plumb it all up, if you need to buy all that stuff retail.
You'd need a reservoir about 30 / 40 gallons (just a wild guess). Have to find or fabricate that.