Reddit mentions of Park Tool BBT-22 20-Spline Bottom Bracket Tool - Fits Shimano Octalink, SRAM, FSA, etc.

If the taper on the cranks is screwed up, most likely so is the taper on your bottom bracket. You should replace that as well.

Is your BB a cartridge bracket? Square taper brackets are inexpensive on Amazon, and the Park BBT-22 is less than $20.

Alternately, you can put a piece of wood on the old crank arm and smack the shit out of it with a hammer to wedge it on tighter. Sometimes that works, sometimes it doesn't. Don't do it with the new set you bought though.

It appears to be a cartridge bottom bracket (either square taper, Octalink or ISIS) from the image. The only way to tell which one, since there appears to be no information on the internet (I searched), is to pull the cranks and identify, then measure it.

You will need a crank puller and a cartridge BB tool.

https://smile.amazon.com/Park-Tool-BBT-22-Shimano-Cartridge/dp/B001A0AIAG/ref=sr_1_3?keywords=bbt-22&qid=1565128333&s=sporting-goods&sr=1-3&th=1&psc=1

https://smile.amazon.com/Oumers-Bike-Crank-Extractor-Professional/dp/B0716NX7KC/ref=sr_1_8?keywords=bbt-22&qid=1565128333&s=sporting-goods&sr=1-8

It lookes rusted in, consider a bolt and washers to hold the tool in so you can crank on it with a breaker bar. Might save your knuckles that way.

Also, one side may be a plastic cup.

You'll probably need:

• Lockring wrench
  
• Crank remover
  
• Bottom Bracket Remover
  
  • However bottom bracket tool depends on the type of BB. I linked a Shimano sealed cartridge.
    
• Chain tool because if you change cog/chainring, you will have to add/remove links to your chain
  
  Park Tools is basically the Canon/Nikon of bike tools; always quality parts and they won't break down on you.

Looks like it's a typical square taper crankset and bottom bracket. In this case you'll need this for the bottom bracket:

http://www.amazon.com/Park-Tool-Shimano-Cartridge-Bracket/dp/B001A0AIAG/ref=pd_sim_sg_1

You'll also need a crank puller to take off the cranks if they aren't on already.

The Park Tool version is what I have. It has a socket in addition to being six sided.

If you've never installed a cartridge BB before, I will say it's 100x easier with an adjustable wrench, because you can use a QR skewer through the BB to hold the tool in place. It has a tendency to slip off when using it through the socket. You'll see what I mean :-)

You may want to just start it that way and then finish it with the torque wrench to save the aggravation. In all honesty though you don't really need one. You're just wedging the cartridge in place to prevent it from backing out, which it won't do because of the thread direction. Once it feels tight, it will stay.

If the bottom bracket is loose, you need to remove the crank arm(s) and tighten it. I'm guessing you don't have a crank arm remover or the correct adapter for the BB cups.

Although it'd be extremely helpful down the line to own all the tools you need for this, it'll be a lot faster and cheaper just to take it to a shop and let them figure out what's loose and what needs to be done to fix it. If you want to do it yourself, you need the following:

• Crank Puller
  
  
• BB Cup Tool
  
  
• Torque Wrench
  
  
• 8mm Allen wrench socket
  
  Use the torque wrench! If you don't, you can over-tighten and crack the BB cups, and press the crank arm onto the spindle too far.

The biggest difference between cranksets is roundness, a more expensive crank is going to be rounder which means there's a smaller difference in chain tension which means it "absorbs" less energy is more silent. Expensive cranksets are also stiffer, but unless you're putting out 3000 watt that isn't really an issue.

That conversion kit looks like a bad idea, it's a bunch of the cheapest components being marketed as "hip".

They're called riser bars, as long as you find a bar with same diameter (probably 25.4 or 26 mm on older road bikes) you can keep the stem and headset.

Park makes super nice tools, and that stand is a great choice. But I'd really consider buying tools along the ride, instead of shelling out big time for this huge set. Since you are a tool guy you probably already have a good part of those wrenches and keys, so it'd be better to move a bit of that budget towards your bike.

For this conversion you'll need these tools:

• Chain whip
  
  
• Pedal wrench
  
  
• Chain tool
  
  
• Tire levers
  
  
• Crank puller
  
  
• Chain cleaner
  
  
• Bottom bracket tool
  
  This totals about half of what you'd pay for the complete set, so I'd go for the complete set if you need all the wrenches, but otherwise you can put an extra $100 into your conversion.

You can get one from Amazon for $15.00

http://www.amazon.com/Park-Tool-Shimano-Cartridge-Bracket/dp/B001A0AIAG

those cable cutters suck.. try this Jagwire cutter

Bottom Bracket tools? like the BBT-22

Cassette tools? like the FR-5G

Also, it looks like you like to true your wheels enough to get a better spoke nipple wrench