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@pip
Reusing the cranks depends a lot on your current set-up. If its a cottered retro raleigh crankset (ie theres a visible cotter pin on the crankarms) then you're probably best replacing the cranks as cottered cranks kind of suck on fixies.
Basically, you need to work out what your chainline is and replace components according ie what rear hub are you using? what chainline does it give? How close to that chainline can you get with the current cranks (consider moving chainrings onto the inside of the crankarms etc)?
Have you read any of the Sheldon Brown fixie conversion articles? If not they'll really help clarify what questions you need to ask.
http://sheldonbrown.com/fixed-conversion.html
http://sheldonbrown.com/deakins/how-to-fixed-conversion.html
If you're stuck still, post some pictures of your bike as its much easier to give advice when folks can see whats going on.