About as far away as becoming God. I doubt they will get past the point of creating enough proteins to make a cell, properly folded for use.
Having the technology capable of making proteins in vitro is not the problem. Getting the proteins to fold properly is the easy part. As you say, quantity is the problem.
Creating rNA or DNA from scratch is about as viable as a child creating a supercomputer with an erector set.
They have machines that make DNA. A 12 year old could probably run it.
http://www6.appliedbiosystems.com/press_releases/3900/
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