To Compost or Not, Is it worth it ?

Just recently moved to a new house, it's a heavely wooded area (South East Tx). I get tons of leaves and pine needles in my yard. I was thinking of building a compost bin for the leaves and gr clippings, but I have a few questions. How long does it usually take to have some useable material ? Also, does it create an oder ? Are leaves and gr clippings enough ? Is it better to build your own or buy a bin from a garden center ?