On the crank, I'm not sure Salubrious is right about all that. Specifically:

Are both chain rings removable? If so, yes, you should definitely reuse the crank; but you will want to remove the bigger chain ring and get a shorter spindle. Don't get a BikeSmith cotter press; though it is indeed a very well made tool, it does not fit high end cranks. It is made for the Raleigh Sports style crank that has room for a chain guard between the crank arm and the chain ring. Instead, get the little vise made for a drill press. If you have the right tools, cottered cranks are easy to deal with. A good cottered steel crank weighs about the same as many cotterless aluminum cranks.

If the larger chain ring cannot be removed from the crank arm, I'd just get a better cottered crank. I don't think a cotterless crank will look right on that bike. But obviously my opinion is not relevant here.