I use all of the above tips which are all chapters in "restoration 101". No matter what you do though, make sure you've got a decent set of tools. By decent I don't mean the most expensive Snap-On, just good forged spanners which can now be picked up at Supercheap, Repco, Bunnings and even Aldi from time to time. The following is a good starter kit.
* A full set of Metric open end spanners.
* A full set of metric ring spanners.
* A set of cheap (Aldi etc) ratchet ring/open end metric spanners. (not 100% necessary but very handy)
* A decent set of metric sockets in 1/4 and 3/8 and 1/2 inch drive.
* A large shifting spanner...(but use it sparingly)
* A decent set of screw drivers inc. 3 or 4 different sized Phillips head and 3 or 4 straight head.
* An impact screw driver.
* A couple of different sized hammers ranging from 5 oz to a 12oz ball peen. A rubber hammer, a copper and cowhide Thor hammer.
*A set of chisels and punches.
* A 4" grinder with a variety of grinding, cutting and sanding discs.......buy the best quality cut off discs as possible as cheap ones can explode without warning.
* A decent cordless drill with either 14.4v or 18v battery.....don't go for 9v or 12 v as they often run out of puff very quickly
*A decent mid priced set of imperial drills preferably the new style cold tiitanium coated variety.
*A couple of crowbar/pinch bars about a foot long. Cheap at $2 shops.
It's handy but not essential to have
*A good 1.5hp compressor and accessories including a rattle gun and spray equipment.
*A set of metric T wrenches
*An Oxy-Acetylene welding set.
*A cordless or corded jig saw
*A power saw.
A parts washer....
http://www.ebay.com.au/itm/Parts-Washer-75-Litre-/121152884033 *A TIG welder.......only if you know how to use it.
*A hydraulic bike work stand
http://www.ebay.com.au/itm/Motorcycle-Motorbike-Hydraulic-bike-Lift-Table-450kg-stand-jack-hoist-/281059048257?pt=AU_Car_Parts_Accessories&hash=item41706cbb41http://www.bunnings.com.au/our-range/tools/hand-tools/sockets-spanners-tool-kits/tool-kits?gclid=CMWX9ZeDqboCFUtFpQodTFAA7w http://84.17.188.19/au/html/offers/2827_27269.htm