New drivetrain on my Clockwork

[lingus75]

I have an original Orange Clockwork frame which I use for commuting and I need a new drivetrain. I will go for the XT 8 speed cassette as usual but was looking into getting a different chainset as I also need a new BB and getting rings aren't much cheaper. I was looking at the RaceFace Ride XC Chainset 2007 from CRC and was wondering if the BB will fit into my bike and if there would be any issues with the chainset?

I oculd just leave it until it's totally shagged but I am starting to worry about my nuts and the chain breaking as it is about 5 years old now and has been split so many times I don't really trust and can't replace it as is.