[deuce_roadster]

Having the CD or catalog will help you by identifying what tools would fit your needs. They are all identified with a number often preceded by a V.There are some that are for V8 60 that if you bought you might never use, like the tool that compresses the valve spring to put the retainer on looks like the 85 version but is just a little smaller. The valve, guide, spring and spring retainer you install as a unit into the block and then using the bar with forked end, pull the spring down to install the horseshoe clip that holds the assembly in the block. There is a groove on the outside of the guide that the horseshoe clip goes in.
While the KRW tools are really great, ones not worn out are expensive and for most things there are other tool makes that work as well. I have a modest few and I think your #1 choice is correct. The shackle pin installer/remover is something you might look for as those usually need to be replaced and can be frustrating without this tool.
One other tool I have used more often then I thought is the steering wheel puller. If you have an early car with the tapered bottom of the steering wheel, it is the easy way to get it off without damaging anything. Later wheels have threaded holes that you can use a standard puller but the 32 up to at least 37 have the tapered part that flares down to the mast jacket.