I'm reading up on reverse dns to use it for a project I'm handling and was wondering if it is indeed possible to have your own reverse dns server, instead of having to go through an isp like TP for example where it might take some time to get new entries put in.

I'm assuming I'll have to talk with the ISP in use to see how they would handle that, to re-route any queries to our own rdns server.

Does anyone have any experience in this in which they could share so that I can better understand this? I would greatly appreciate it, thanks.

It's possible. You'll need your own IP address space though or an ISP who's willing to delegate reverse DNS lookups to your server though.

thats what I figured, but wasn't sure about it, thanks

Only ISP I have seen that will do it (and I have been with a bunch) is SBC. I had a /29 with them over DSL (routed), and they gave me control of my PTR's.

I dont think its that big a deal for reverses, as Ive gotten over that "IRC phase" of changing my vhost every 10 minutes.