Re: Parts that should be replaced before installing the kit
This is a good transition one - the wrap around U-style (as opposed to the drilled T-style) universal clamp can fold the frame. This isn't a completely stock part, though it is given as an optional upgrade at a few retailers.
Reinforce that puppy with some cut pipe with the same ID as the OD of the seat tube.
There are more high quality parts you can use - one I have used is a customized muffler clamp.