Originally Posted by
FBinNY
Don't take this personally, but thank you for making my point. None, not one, of my current personal bike uses any of these fractional tools. My A road bike doesn't use any of these metric tools and my A commuter uses none except the 10mm (box or open). However all my bikes use 4,5,& 6mm hex keys, a pedal wrench, and the commuter uses a 19mm cone wrench for centering the cantis (a 19mm combination is too thick).
My point whether you prefer sets, or buy as you go, do an assessment of what you actually need (and will use) and compare your needs list to the contents of any kit. Then compare the cost of buying loose vs. the set. One other reason I don't recommend sets is that no one maker makes the best version of all tools. You may prefer mostly brand x tools, but for some will vastly prefer Brand Y or Z.
If I look at my selection of tools, there isn't one brand that accounts for more than 20% or so.
The question was for a basic home mechanic set, so I wasn't answering specifically for bicycle. I spent many years as a pro auto mechanic so I was thinking about it from the standpoint of what are the absolute must haves for basic mechanical repair. In a pinch I could fix anything on a bike with a screwdriver and a pair of vice grips.
Good point on sets though, it is better to see what specialized tool you might need then buy whole sets.