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Join Date: Jun 2014
Location: Ontario, Canada
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Bikes: iele Latina, Miele Suprema, Miele Uno LS, Miele Miele Beta, MMTB, Bianchi Model Unknown, Fiori Venezia, Fiori Napoli, VeloSport Adamas AX
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For grease I just use a decent marine grease. It's totally waterproof and requires a good scrubbing with soap and a stiff-bristle brush to get it off.
You need a socket or special wrench that fits your nut on the bottom bracket spindle - usually 14mm but sometimes 15mm. Those a re the two most common sizes.
Then you need a crank extractor aka puller that screws into the threads on the arms of you crankarms.
A pair of large slip-joint pliers can be used in a pinch to undo the lockring on t he left side of the bottom bracket. A pin tool is usually uused to unscrew the adjustable cup. Your appears to be a large nut. If so, then a large adjustable wrench might fit it.
So, with luck t he only tool you might need to buy is the crankarm extractor/puller.
I'd clean the inside of the cups really well and then put in new ball bearings. Use lots of grease. I put grease in the cups wherethe bearings will go and also on the bearings themselves if caged.
Cheers