it will but the locking mechanism on each binder have prevent it from fall..
nice kit indeed... just prepare enough pen lining before build... average price would be RM260-290

That's depend on how detail you want your Gunpla, if by just assembly it satisfy you, then you don't have to do anything at all, but once you started to try out penal lining and painting, you will found that you need all soft of tools. I would suggest that even for a pure assembly, the most basic is the cutter, sanding paper, cement, pen knife, penal lining pen and maybe some Gundam Marker for touch up.

No Zaku II???!!! 

I used to be like you, but after i picked up the Zaku II 2.0, i realised how assembling a mono-eye is so much different from a Gundam. That's what made it interesting for me.
Not to mention that the Zaku II 2.0 itself is a very good kit. 
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maybe graffiti got plenty. but if not, check others too. like time machine.
actually, b4 get myself a zaku 2.0J, I never really a zaku fans. but after buy that, the skeleton was sooo awesome makes me thinks not to put its armours
the same goes to S. Matsunaga's Zaku II ver. 2.0 

by cutter you mean the 'playar' right?
i got mine from Grafitti for RM30 with a screwdriver, part separator and 2 more tools that i forget the name lol

there is a pinned thread for it ,you know

http://forum.lowyat.net/topic/488910