A quick look at the picture of the Sugino crank shows a possible date code (174) embossed on the inside of the crank just below where the axle for the pedal. That may mean it was produced sometime in 1974 since most bike companies didn't stock parts for long. It's a bit confusing because Sugino had so many different ways of dating parts according to this
Date of Manufacture of Bicycle Components can be used to date a bike: component dating. If you can find dates on any other part, refer back to this site to figure out roughly when the bike was made. It is in pretty tough shape. I would stick to replacing tires, tubes, cable, and the pedals first before you stick $$$ in a bike with so much rust. Then clean, grease and adjust any bearings you can get to. I would try eBay since you can get some parts easily there that an LBS is unlikely to have in stock.
You can buy a pretty comprehensive tool kit on eBay (44 tools for $46 postpaid) and it will have most of the tools you will need for a current bike.
The one problem is the bike you have is old and some of the components use different tools than come in the newer tool box. For example, you will have a freewheel on this bike, not a cassette that is found on most newer bikes. You need a freewheel tool to remove the freewheel. Those of us who have been around for a while actually have tools for old bikes so if you can find someone who has wrenched for a long time they may have the tools you need. If not, you will need to have a bike shop remove the freewheel before you can replace it or re-grease the bearings in the rear hub.
Until a couple of years ago I owned a Motobecane Le Champion bought in 1973 or 1974 and because it was well cared for it had none of the rust that shows on this bike. It is a shame it wasn't stored more carefully. The tires look like they may have been the original tire that came with the bike.