The vise is for either since it just compresses the masterlink onto the chain and then if you need to rivet the chain, you should use a chain riveter, the pliers are for the masterlink clip if you are using it. These are common tools available from Motion Pro..check out the website for them
http://www.motionpro.com/Docs/chaintools.html

 

here are some pics and info on the tools
The 08-0070 fits most 520-530 standard and O-ring chains.
Small size makes this tool ideal for fanny packs or small tool boxes. Includes a hex key wrench and is made in the U.S.A. (Shown at right side of photo)
08-0070: $24.90
Master Link Clip Pliers
Here is a real tool of convenience. This tool makes master-link clip removal and installation a breeze. Check it out at Indy and see how easy it is to use. Your dealers will love this tool and the low price will make this a popular tool with all enthusiasts.
Part number: 08-0230. Sug. Retail $27.90.

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Wow, grat information. So what I'm thinking is that I need the plier, the mini chain breaker and mini chain press tools. If I have these three tools, I can finish my bike (since it's on the stand now)? I also learned to be patient. I was a bit frusterated last night,... sorry.

 

Considering I forsee my mechanics going beyond my 954 (since I have a 1972 CB 350 in the garage in the "teardown stage") maybe it would be more benificial for me to get the pliers and the Chain Breaker & Riveting Tool Set. Any advice?

 

The Chain Breaker/Riviter set is a VERY NICE unit, but it is spendy!! It is about $100 at most places...the key to using it is that you really should grind down the rivet you want to punch out of the chain. It will weaken the joint and make it less likely to break the chainbreaker tip off ( they do sell replacement tips) and one guy actually used so much force that he bent the ACTUAL TOOL!!
The pliers is something you will use over and over, especially dirtbike guys who use paddle tires and have to run 2 masterlinks and a extra piece of chain for the paddle to clear the swingarm...
The Chainbreaker can be used on camchains as well, like the one in your old bike. So either one is a wise investment if you plan on doing your own work

 

So what's the performance difference if I go from a 43 rear tooth to a 44? Would I have to increase my chain length?

 

1 tooth isnt usually a problem...more than 3 though might require a longer chain. BUt intead of going up in the rear, try going down in the front. down 1 is equal to adding 3-4 teeth in the rear and then you have too much chain instead of not enough

 

1 tooth is barely even noticeable....the bigger you go in the rear ( or smaller in he front) will limit your top speed and increase your acceleration. And as a side note...if you have a bike that the speedo is driven off the transmission any change you make will affect the accuracy of the speedometer. So your MPH is reading to fast and your miles add up much quicker

 

So I went to the store to pick up the pliers, and on the website they're like $28,... good old retailers at $55!!! I thought that the mark up was a bit ridiculous and decided not to purchase them there! Do I have an alternative to these in order to get the chain on? I need something to spread the link, and put the master link in, and then secure it down. I'm lost in this stupid project! AHH!

 

So everyone can laugh at me now because I spent $130 on the chain breaker and riviting tool set and the chain press. Wednesday night all the tools and sprockets should arrive and there will be a bike buiding party in my garage (everyone is invited of course). I'll bring my difficulties to those around Wednesday night!