Unfortunately, you can't make a 16" circular out of the boye needlemaster set. The smallest you can make is a 20" and I personally have a difficult time working properly on that length. The knit stitches are okay but the purl stitches are difficult.
Sorry I need to run, I'll try to post a bit more later. Also you might want to check out the thread in the general knitting section with 'everything you need to know about interchangeables'.
Gotta run... :XX:
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