The photos should give enough information for assembly.
The "assorted gears" are, or should be, the change-wheels; but note that they can't be set up for fine feeds. The EW manual (I have one of the lathes.co photocopies) stresses they are for screw-cutting only. If you need add further, or replacement, gears be careful to match the wheels by pitch and pressure-angle. Or use a set of its own and not mix them.
The lathe should be driven via a counter-shaft and hopefully what you have bought includes the original shaft, pulleys and frame. A third- or quarter-horsepower motor of about 1440 rpm, with a 3 or 4 : 1 primary pulley reduction, as I have on my EW lathe, is about right.
I would advise setting it up as original, certainly until having become experienced with it; and definitely before trying to modify it.
A tip regarding clamping anything to the saddle T-slots: they are fairly fragile so T-bolts are safer for it than nuts and studs, or use a T-bar with studs ensuring as with all T-nuts and studs on any machine, the studs cannot reach the floor of the slot.
As on other lathes, when engaging the back-gears and change-wheel, give them a slight clearance by nipping a piece of thin paper between the teeth while tightening the clamps.
Tooling? You will find as many arguments on this Forum about HSS / carbide inserts as there are insert types. I.e.. lots and lots, often based on the carbides' ability to run at very high speeds being translated into needing do that. I use both on my Myford and Harrison lathes, but really, stick with HSS (even high-carbon steel!) tools for the EW. They are low-cost, relative easy to sharpen to give very good results, and well suited to this machine's modest feed and speed limits.