The Essential tool kit looks like a decent deal at first. But it's made for modern bikes, not vintage.

It's lacking several things you'll need for your vintage bikes:
Cable housing cutters. Buy Park or better; quality cutters will save you frustration.
Freewheel remover -- your bikes probably have freewheels, so the cassette remover tool is superfluous for your project
Lockring wrench -- your bikes have loose ball Bottom Brackets, the "integrated bottom bracket wrench" is superfluous

Even the $150 kit is lacking the last two.

Skip the torque wrench for now, you can hand tighten most fasteners on the bike.

Most folks buy their tools one by one because they already have hex wrenches, tire levers, open end wrenches, etc.

Is there a bike co-op/collective anywhere nearby? Any bike shops hold a DIY night? My bike co-op has all the tools I need and has stands for rent. A bike stand is pretty damn handy for rebuilds as well; I'm mad I waited until this winter to get one.

Also google "DIY bike tools", "DIY bike work stand", and such. Folks have come up with cheaper, homebrew ways to work on bikes in some cases.