Randy,
The shaper is inexpensive. Where it especially shines is working knots down smooth. It also is responsive to varying the pressure when scraping - hard pressure really grinds the wood off and light pressure with rapid strokes shapes things nicely with a lot of control
<<I wish I could machine some ferrules...so far I have only done copper pipe fittings.>>
You don't need to use a lathe. Check your local scrapyard(s) and snag some aluminum - square or round x-section - that is as "fat" or a bit more than the staff you are working on. I usually pay around $0.75 / pound for good stuff, but that seems to be low around the country - most folks seem to pay about twice that (still cheap). If they are machineshop scraps, many of the pieces will have the mill markings on them; the tempered alloys are best - like 6061-T6, 7075-Twhatever
Here is ONE method that works well; there is an "inverse" method to this as well:
Cutoff a scrap in pleasing porportions - try 2-3 times longer than the diameter as a suggested starting point. Drill the largest hole you can in one end - about 1 inch deep is plenty - or a bit less. On the lathe I will bore the recess out until there is a little less than a 1/4" wall left, but you may not have a large enough bit - try to make it at least a 1/2" diameter recess (use a reduced-shank bit if all you have is a 3/8" chuck drill).
On the end of the staff, whittle a peg that is about as long as the recess you bored in the aluminum. Keep the shoulder transition from peg to full diameter staff as square as you can. Cut and fit until the peg slips into the recess (you can "cheat" a little when you get close - hammer the aluminum on and it will compress minor high spots). Once it fits, epoxy the aluminum chunk on the staff - best if you have enough excess to fill in any gaps at the shoulder. Set it aside to cure.
Now just shape the aluminum end with your hand tools. The shaper will handle rough work but stop using it before you get too close to wood diameter or you'll have some deep gouges that you won't like. Switch to either a wood rasp or a file. If you use a file, two points: 1) "file" some chalk before starting (use something like a chalk ball for a mason's line) to fill the teeth and 2) make sure you have a file card handy. The chalk will greatly reduce the pinning (teeth fill with the soft aluminum), but sooner or latter you will have to card the file to remove the aluminum clogs.
If you've been using a wood rasp, remember to switch to a file before you get too close to final size/shape. At the end, you'll be gently filing both aluminum and wood at the same time, resulting in a "perfect" transition from wood to metal. Finish the aluminum and wood with some sandpaper to your taste - and don't get too carried away (like buffing wheel) because remember - this is the business end, LoL - it's gonna eat dings and wear - why polish it?
There are some speed-ups you can do if it's a square chunk you start off with, like hacksawing the corners off. The thing is, when you FIRST start shaping that lump of aluminum it seems to take forever and all of a sudden - omigosh, you're almost finished. It really doesn't take all that long.
BTW, aluminum tends to GRAB rock rather well - which is a good thing. Find a crutch-tip or furniture leg tip that fits at your hardware store - they come in 1/8" diameter increments at my neighborhood hardware store. You may slip the rubber tip on if you want to quiet the staff a little on pavement.
Also... if you are perverse, it is NOT HARD to shape the very tip of the aluminum into a facsimile of a deer hoof - which is kinda fun to play with late at night if you have my warped sense of humor AND a bunch of young Scouts around... think about it <grin>...
The aluminum looks sharp - especially on darker woods. Brass looks fabulous on lighter colored wood like ash and white oak but it is awfully heavy, so I stick to the aluminum (besides, I keep plenty around for tinkering with). The results on a finished staff are good enough to make these a SPECIAL gift for special folks.
HTH,
Tom