You don't need the inline tool, you don't need the flow vane installation tool, you don't need a magnahelic, and I believe SP o-rings are EPDM (not "EDPM") duro 70 except for the HP piston (010) which is a duro 85. There's nothing special about SP o-rings, you can easily get high quality o-rings at a number of suppliers. Nitrile and viton o-rings are fine as well. In general, o-rings that are subject to high pressure gradients that could cause problems with extrusion should be a higher duro. I use duro 90 o-rings for the HP piston spot and the HP seat seal.
SP has used different materials for o-rings throughout the years; they were using polyurethane for the piston for several years and claimed it helped performance. But then they abandoned PU o-rings, I suspect due to concerns about shelf life, but that's a guess. The point is, the exact material is probably not that important as long as the o-rings are the correct size and an appropriate hardness.
There is a lot of good information on this forum if you search. You can look for posts from DA aquamaster, awap, couv for good info. There are others as well. I would start with the Vance Harlow book, then read reg savvy, and feel free to ask questions on this forum.
Before you spend any significant money, spend some time asking more questions on this forum and you will get some honest information based on experience.