Really, the new tools you will need are minimal.

Cable/housing cutters are nice, but I've cut plenty with ordinary wire cutters. A little harder to do and not as clean, but they work.

You don't need a special tool to crimp the ends on the cables. Any pliers or wire cutter will do.

Bottom brackets do require two special tools -- A bike specific wrench to loosen the ring and a spanner wrench to remove the BB.

And you will need a set of cheap allen wrenches (any discount hardware store).

For your bike specific tools, save money and go on line -- Performance or Nashbar. You don't need Park quality. The house brands will do.

For cables, and housing, Performance and Nashbar sell prepackaged sets for a lot less than buying the parts individually.

For touchup, go to a hobby/model store and buy the Testors blue, yellow and white. Mix small amounts in bottle caps until you get the shade you want.

I'm guessing you can purchase all necessary parts and tools for about $70.

I rebuilt a 560 for my son. Great bike and easy to work on.

Good luck.