A walk cycle is a good idea to begin I think. Maybe you could add a jump to the walkcycle, for instance too. Or something else that we do when we walk... It's just a suggestion, don't worry about it! :p
I'm agree with you when you tell that it's better to begin with basis. ACS4 is probably a good plugin, but we have to start to the beginning first.
Personally, I've no problem to set up a character (bones, weight maps, etc..), but I don't know anything about the inverse kinematics and how to create a good walkcycle, so it might be a good tutorial!
I hope it will be online soon...