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@ChrisNW
Sorry, can't help ID the frame but it looks like it would be worth putting some work into. Should be a good ride if you can restore it.
BB is an interesting problem. I don't think the tool you suggest would be the right one for the job.
Is the BB lockring Metal? I can't make out from the pics if it is metal or plastic.
If it is metal, you should be able to get some large Mole grips or stilsons on it to get it turning. Make sure you are turning it the right way! If it's plastic and a bit brittle you may be able to chisel the lockring out. I doubt that a plastic lockring would have been used on a 531 frame originally. The BB is probably not original.
Good luck