Port Panels Teasers to D7?

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Would this be quite tough to convert?
I am just starting to learn to code for drupal and have a lot of time next week that I'd like to spend working on a little drupal project to cut my teeth on. I also need a D7 version of this module so I was thinking maybe converting it could be that project.
Would it be over-ambitious to try to do anything with this till I'm more experienced?

Any advice would be very much appreciated as I am definitely a newbie but very eager to learn.

EDIT: I had a go at this, but it is way over my head. I don't really know PHP well enough, let alone Drupal.
Soooooo I'm going to scrap the sandbox in a couple of weeks, will leave it up for a little while in case anyone cares - it'll probably only save a half hour or so but someone might think that's worth it.

The sandbox is at: http://drupal.org/sandbox/Shadlington/1143228

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Shadlington thanks for the go at it. I checked out your twitter feed and noticed someone posting a display suite/panels integration screenshot. If this is more than vaporware then it would eliminate the need for this modules porting.

http://twitter.com/#!/swentel/status/81376611873726465
http://realize.be/using-ctools-content-field-display-suite-field-ui

Oh yeah, I was thinking the same thing!
I got pretty excited when I found out about it because it removes the need for this module - but in a cleaner, more flexible way.

Especially as swentel says he may add variants + selection rules too!
So you could have any view mode rendered by panels, exactly how you want it. Fantastic!

I don't know how much longer we'll have to wait for it but its definitely exciting stuff.

Oh and I doubt this will be vaporware - swentel is pretty reliable at delivering on features after he announces them :D

Ya, I didn't realize who he was. I'm super excited about this. I just pulled the git version and it has panels support but not in the visual way you see in that screenshot. Can not wait for this!

Yeah he hasn't committed it yet, he probably won't do till its reasonably stable.
But I expect we'll be seeing it soon!

Woah, definitely not vaporware - he committed it not long after I posted #9!!

Already playing around with it! It's not often a module makes me gitty.

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It's not perfect, but Display Suite now support panels as #13 mentions. I've been using it on a production site for about 2 months now without a problem.

Yes, it seems display suite works well with teaser display.

But if panels can support this, I will try.

mikewink, your comment in #13 is just what I was looking for. Thank you!

Project is no longer supported.

Mikewink is correct, Display Suite provides this exact functionality.

Thanks for your interest everyone!