thread cleaners and other tool questions

[ryans69chevy]

I'm gonna go shopping for a few important tools that I need to rebuild an engine and just to add to my tool box for other car essentials. I need a tap and die set to clean my thread on my block. I've heard ARP thread cleaners are one of the best so they help keep the bolts torqued. I'm just wondering if a cheaper tap and die set like craftman would work just as well or if I should just spend the money and go with a set from ARP, or just buy the ones that I'm gonna use the most? What do you guys think? I also need a torque wrench. I suppose 1/2 inch would be the best, but I hardly have any 1/2 inch sockets. Would a 3/8 inch torque wrench be sufficient enough for torquing bolts on my engine or should I buy a good set of 1/2 inch sockets? What brands would be good to go with on this stuff?

Thanks for any advice