LBSC's magazine articles did that, of course. His subsequent books did the same thing for individual designs. In modern times, the equivalent is the ARM1G design, the book for which is shown here: http://www.g1mra.com/shop/
and its predecessors (Project and Dee), although ARM1G is designed to accomplish just what you describe, including lots of parts which can be bought from trade sources, such as frames, complete cylinder assemblies etc, so that the entry level can be tailored to an individual's pocket, capabilities and resources.
There is a case for 3D modelling of LBSC's designs, as a project in its own right.
There is another case for updating those designs, by converting sympathetically to metric dimensions (which would get my vote) to make them accessible for younger or newer builders (say under 70), and/or by updating the designs comprehensively to modern standards and practices, including modifications in the light of previous builders' experiences.
There is also a case for preserving the 'words and music' of text and drawings from the magazine articles. Those preserve an important aspect of his success, which is the 'can do' spirit. I agree with earlier comments about LBSC's intentions, and his ability to describe how to do the job with limited resources. It would not, however, be my approach now, as I think that although it may (and I do say 'may'
lead to success, there is a danger that it fosters an attitude which rather devalues the depth of understanding and sheer skill which can be developed by deliberately pushing oneself to develop the appropriate workshop resources and associated skills to do the job in a more precise, and often more effective, way. This is, if you like, the difference between the approaches of LBSC and G. H. Thomas [I will stop here, as I notice a hobby horse preparing to gallop]. This is important, though, as it impinges on the discussion of whether to simply preserve the LBSC designs in their original state, or whether to comprehensively update them.
Drawings re-drawn by the magazine staff would be M.E. copyright, of course, as would the page layouts, but the words and original illustrations and drawings belong to LBSC's estate. Which takes us full circle, I think…
Marcus