A lot of people are talking up the white derlin receiver block...it goes up into the receiver, and doesn't clamp around it. Either one will work, though. Don't get the barrel vise, it doesn't seem to have a very good reputation these days.
The Technical Manual says you need a torque wrench to install the barrel...but a lot of folks here never use one, myself included. I've only done 2 barrel installs, but all I did was tighten the barrel nut to hand tight, then crank it down 'til the next gas hole, and leave it. You'll get some very strong responses to this method, both for and against, but so far, both my barrels are still on...and the "anti" torque folks will tell you that 90% of barrel installs done the way the TM says result in overtorquing or other problems.
I used the DMPS armorer's wrench..it has a variety of uses, including the ability to install regular barrel nuts, CAR stocks, float tubes, and even has a nice big blade on the end to do the upper buttstock screw.
As far as special punches, they're good to have, but you won't need 'em for knocking out the taper pins that hold the front sight block on...good strong punch will do...you're gonna have to hit it pretty hard to get 'em started. If they're taper pins, obviously one side is small than the other, knock them out accordingly. BTW, my one barrel had a removable gas block, and the other one didn't use taper pins...so I don't know which side to knock the taper pins out from.
The most important piece of equipment is the reciever block...I learned a valuable and expensive lesson trying to do it without one [:D].