Hi Christopher:
It's a lot of fun to maintain your own moto. I believe that there are two criteria you need to keep in mind as you build your tool collection. First is that you need to have the
right tool (for example, a proper JIS screwdriver, not a Phillips), and second is that you should purchase a
high-quality tool. Better quality tools feel better in the hand and get the job done more efficiently than cheap (translation = Chinese) tools, and using better quality tools avoids damage to fasteners.
If you are just starting out and don't have any tools (other than what came in the little kit with the bike), here is what I suggest you get, listed in order of priority (order in which you should acquire the tools):
JIS (Japanese Industrial Standard) Screwdrivers
Honda products don't use Phillips fasteners, they use JIS fasteners. Although the heads on the fasteners may appear to be the same, they are not. If you use a Phillips screwdriver on a JIS fastener, you will eventually chew up the head on the fastener, and you will always have difficulty getting a good grip on the fastener to loosen or tighten it. There is lots of information out there on the internet (and even here in our own forum) about the difference between the two specifications. The very first tools you should buy are two JIS screwdrivers, in 'regular' and small size. They are often sold in sets of 3, the largest of the three is uncommon on the ST 1100. 'Vessel' is a trustworthy manufacturer of high quality JIS screwdrivers. Probable cost (including delivery) about £20 for a set of 2 or 3.
5mm & 6mm Hex Key Drivers with a T handle
The ST 1100 has a lot of 5 mm hex head fasteners on it, and a few 6 mm hex head fasteners. You could undo these with a normal hex key (Allen key), but it's a heck of a lot faster and much more pleasant to use a T-handle tool. Whenever you do any work on a ST 1100, you need to first remove various plastic ('Tupperware') panels, and you will use the 5mm tool to undo the fasteners that hold these panels in place. These tools are very inexpensive.
Metric Sockets, a rail to store them on, extension bars, and ratcheting wrenches
You can always use a socket wrench to operate a fastener that could be operated with a spanner, but you can't use a spanner to operate a fastener that is deep in a location that won't allow you to swing the spanner. So, socket wrenches come before spanners in the order of priority of acquisition.
This is where you need to pay attention to the quality of the tools you are buying. A good set of sockets & ratcheting wrenches will last you a lifetime. A cheap set will frustrate you for a lifetime. When comparing a cheap set to a good set, the is little or not difference in the end of the socket that goes onto the fastener, but there is a world of difference in the square end that fits into the extension bar or ratcheting handle. The cheap sets don't fit well, they don't have a retention mechanism, and the tolerances are loose. You don't need to blow your bank account on a set of Snap-On tools, but avoid the bottom half of the price range.
In the picture below, the upper row are 3/8 inch drive, and the lower row (the smaller ones) are 1/4 inch drive. Generally speaking, you can't get the smallest sizes in 3/8 drive, and you need the strength of a 3/8 drive for the larger sizes where you will be applying significant torque.
Buy 6-point sockets that only have 6 sides on the surface - don't buy 12-point sockets. You don't need a 12-point socket on a Honda, and 12-point sockets present a greater risk of stripping the heads off of damaged or stuck fasteners.
You don't need all the sizes shown in the picture - Honda generally uses even-number sizes, except that they sometimes use 13mm. If you are buying individually, get 6, 8, 10, 12, 13, 14, 17, and 27mm (the 27 will probably be a 1/2 inch drive, you can buy a 3/8 to 1/2 inch adapter that allows you to use the 27 with a 3/8 ratcheting handle).
Do get a rail to store them on. Rails are cheap, and will save you a lot of time fumbling around. You will also be able to tell at a glance if one is missing, rather than finding that out in the middle of a disassembly job.
You might want to consider buying the ratcheting handles separately from the sockets themselves. If you do this, buy the best ratcheting handles you can afford, because there is a real difference in functionality as you go up the scale - the better ratcheting handles are more comfortable to hold, have better retention and locking mechanisms, and more robust ratcheting mechanisms.
Oil Filter Wrench
This tool fits over the end of the oil filter to allow you to easily remove it. It's not expensive. You drive it with the 3/8 wrench and an extension bar.
Spanners
Like ratcheting wrenches, you want to buy quality first when you buy spanners. It's very nice to have a ratcheting box-end on one end of the spanner, like the ones shown below, but that's not essential. If you buy non-ratcheting spanners, get 6-point box ends, not 12-point box ends. The 6-point box ends have a greater gripping surface on the fasteners, and you won't run the risk of stripping a somewhat worn-out fastener if you use a 6-point box on it.
I suggest that rather than buying a 'set' (a set of good quality spanners is darn expensive), you buy really good quality ones 'one by one'. Start with 8, 10, 12, and 14 mm. Later, you can add sizes one by one as you encounter a need to do so.
Electrical Multimeter
This is an expensive tool, but you can use it for domestic use as well as automotive use. Buy a "name brand" such as Fluke or similar. You won't need the clamp function (amperage measurement) for automotive use, but the clamp sure comes in handy when you want to hang the tool nearby so you have both hands free to operate the probes.
Hope this information is useful and gets you started on your way.
Michael