For this sort of thing an old-fashioned electric drill will work almost as well as a lathe. In this context the lathe really has only one feature that the drill doesn't: a tailstock, which holds the "free" end of the wood. I've had a Unimat SL lathe for about 35 years; it's too small for the tailstock to be of any use on anything but small spars. When I need to make a spar longer than about 4" I either remove the tailstock or use a drill; there's virtually no difference in the results. If you've got an electric drill you can make nice spars.
I do recommend fastening the drill down in some way - either in a vise, or to a "Workmate" -type portable workbench, or with a clamp, or with some gadget that's designed for the purpose. If you're right-handed, mount the drill on the right side of the workbench. Fasten it down in such a way that you can get at the trigger and the button that locks it in the "on" position. (That usually means upside-down.)
The other two things you need are some sandpaper in various grits (from medium to the finest you can find) and a fairly heavy rag. Fold the sandpaper over several times into a fairly thick pad.
You'll also need some sort of caliper or other measuring device. Nowadays really nice calipers are available for surprisingly low prices. (The cheapest I've seen are these, which probably would be perfectly adequate for most modeling purposes: http://www.leevalley.com/wood/page.aspx?c=2&p=52906&cat=1,43513,43546&ap=1 . Even the ritzy digital models don't cost much these days, though: http://www.woodcraft.com/family.aspx?FamilyID=20126 . A digital caliper that works in both inch and metric systems comes in handy for all sorts of modeling purposes.)
Your left hand (if you're right-handed) will be the tailstock. (Something has to prevent the wood from whipping around.) I'm assuming you've already got the spar reduced to the form of a dowel, and that it will fit in the chuck of the drill. Leave the dowel long enough that you can saw off the part that gets squished by the chuck afterward. Chuck the dowel firmly into the drill, get a good handfull of the rag in your left hand (to keep your fingers from getting burned), and grab the end of the dowel in your left hand. Turn on the drill, set the speed where it seems about right (probably the fastest speed the drill will turn), and lock it. Take the pad of sandpaper in your right hand and hold it up against the rotating dowel. (I find it's comfortable to squeeze the dowel between two layers of sandpaper. For smaller spars I sometimes use a narrow strip of sandpaper and wrap it around the dowel.) Apply pressure gently at first, and keep the sandpaper moving along the length of the dowel. Start out with medium-grit sandpaper, and work your way down to the finest. If you stick with it you can produce spars with an almost polished-looking finish.
It sounds primitive, and it is, but it works. The truth of the matter is that in terms of tools and mechanics, woodturning, even on a big, expensive lathe, isn't much more sophisticated than this. (The pro holds his chisels, gouges, and scrapers in his hand, and when he gets close to the finished dimensions he switches to sandpaper held in his hand.)
It does take some practice, and it's a good idea to buy plenty of dowels stock for practice. But my guess is that by the end of the first evening you'll be turning out spars that are as good as anybody else's.
Hope that helps a little. Good luck.