I have been making my own banjos for some time, and my son who is a fine guitar player asked me to make one for him in the way described in this thread. Although he gets a pretty good sound from it, it just doesn;t sound banjo (ish) to me despite trying it with a plectrum and picks. I suppose its everone to their own taste (as the woman said when she kissed a cow on the backside)
Keep on pickin'

Pete