Depends. I know, thanks a bunch.

There's nothing inherently wrong with a cottered crank and if that's what the bike came with, there's nothing wrong with keeping it. But, new sealed bearing cartridge bottom brackets and three piece cranks are a lot nicer to deal with. So, it's sort of a 6/half dozen thing. If you want to service the BB and you ever intend to go in there again, you should either get a cotter press or replace the BB and crank, if reasonably possible. It should be in your case as you're dealing with either an Italian or BSC bottom bracket (probably Italian). You can find older, lesser level, Campagnolo cranks for a very reasonable (in my opinion) price and a decent square taper bottom bracket to go along isn't that expensive. Cheaper than a cotter press and a couple cotters, I think. And, those Campy cranks don't look bad on an older bike, unlike the $20 Shimano 105 cranks you can find.