I have both. Yes they are the same - meant for ISIS and square taper/JIS cranks. I have been using a CWP-7 for many years and I just bought a CCP-22. I bought another one because I have misplaced the little original. So I wanted the one with the handle so it will be harder to disappear. Proper threading on these is a huge deal so I buy the Park tools.
Maybe. The Park tools are only a couple bucks more so I would go that route. Park is the gold standard of bike tools, generally, but oftentimes they take advantage of that with stupid price points. This is not the case with the BB tools.
A torque wrench belongs in every bike mechanic's toolbox. The small 1/4" size for all the little stuff, but considering that no matter what you are going to have to affix crankarms, square taper crankarms
will loosen, and proper crankarm torque is almost universally done wrong without a torque wrench... yeah you need them if you don't want to half-ass the job
which a great many do.