That's a good starting point, and it depends on what sort of equipment your bike has. If it were me, I'd check the how-to tutorials at Park Tool's site and get just the tools I'm actually going to need. For example, there's no point wasting money on a conventional crank extractor if you have a crank with an integrated spindle, or a tool for splined bottom brackets if your bike has an external or integrated/press-fit BB setup.

For a take-along tool set, I take a Park Tool MT-1 multitool ($10), a Park Tool CT-5 chain tool, tire levers, a pump and often a CO2 inflator, a patch kit, and I also have a couple of master links for the chain and a Park Tool adhesive tire boot crammed into the patch kit as well. And a spare tube or two, of course.


Tire pump not shown here. Yes, even my tire lever has reflective tape on it