Interesting. It will certain take some work. Here's an outline:
- Just sample "whole notes", something on the order of 4 sec each. The sample player will handle the early cut off. Don't worry about release samples etc, this is more than you'll need.
- The most important element is the change in tone due to the strength of the pluck, however, for Blue Grass and Folk, that will normally be fairly consistent, so I'd recommend 3 samples - soft, normal, and hard.
- The most realism is when you sample every note. You could easily get away with sampling on a whole tone scale, maybe every third note
- You'll need a good wave editor and processor like Sound Forge. Use this to trim the samples and get them to the same relative volume level.
- Then drop each sample into the sample player, do the spreading if didn't sample every note.
Whew, that's a lot of work. Have you looked into Spectrasonics Trilogy? Cost about the same as Sound Forge and save all the effort.