On the CL1 there is a couple of flats on the drive shaft just behind the threads and a spanner that fits to hold it when loosening chucks, etc.
Now you have your lathe it's time to spend
You can spend a lot, but not necessarly, but I would advise getting the best you can. There's a boat load of info on here about the tools and places to get them from. It's a slippery slope and I'm still on it after 25 years or so! And I love it.
I did a brilliant mod on mine by fitting a 3ø motor and controller/inverter from Drives Direct. Variable speed and reversible. Now the only time that I need to change the drive belt around is if I need very slow speeds with more torque and it will go down to just a few RPM.
I can't really think of any real tips on the lathe itself? As far as the gouges and chisels are concerned I would advise getting HSS tools and keep them sharp. I have a Wolverine OneWay sharpening system and I find it very good and easy to use