I still think it best to do some research before starting, as it makes it much more efficient to use the proper tools and techniques, as well as knowing what to look for as far as wear, alignment, etc. Working on an older bike requires very few specialized tools, notably cone wrenches, spoke wrench, chain tool, crank arm extractor and perhaps a pin spanner. Even good ones are not going to cost very much. General tools should also be mainly of good quality, as they will be used for more than just the bike.
Last edited by cny-bikeman; 10-24-16 at 01:30 PM.