Originally Posted by
Crankycrank
The kit in the link has many tools that are useless for bikes made before the mid 90's or so (torx L wrench set, supplied Bottom Bracket wrenches) and is lacking in some basic necessary tools such as threaded headset wrenches and freewheel (older style rear sprockets) removal tools. Hard to tell for sure but those tools don't look to be quality pieces either. Get the tools as you need them and as mentioned already, buy quality. You can sometimes find good used tools on Craigslist, Ebay, Bike swap meets, shops going out of business, etc. Get a couple of smaller sized JIS (Japanese Industrial Standard) screwdrivers for all the tiny Phillips style screws on any Asian made parts. Makes stripping screw heads much less likely. With all the different standards for bike parts over the years occasionally you'll come across a task that requires an expensive tool that you may only need once in which case a trip to the local bike mechanic may be less expensive.
Lots of great advise so far regarding tools, thanks everyone. I'm really glad I started this thread and asked, rather than just pulling the trigger on a cheap tool kit, and regretting my purchase later.