I am thinking that some Sugino parts are the right bet for this bike. The reasons are as follows:
1. Seem to be decent quality. I have used them on other bikes to great enjoyment, and they are regarded positively online.
2. Seem to be decent price. They're not exactly cheap, but the prices also aren't eliciting a "You've got to be joking," reaction from me.
3. This is a big one: They look damn good. I actually kind of dislike the old fashioned super blocky look on some crank arms. VO's cranks capture it well... but it's just kind of ugly. I'm falling in love with the Sugino RD Track crank:

I'm in love with that little S emblem. One of my biggest issues was with lot of modern cranks having some kind of techno space age lettering on the side. This one totally captures the retro look, especially since Mercier used a crown emblem from time to time.
What do you guys think? Good choice?