Good thinking.
The Crankshaft Position Sensor (CPS) is located at 1100 on the bellhousing, looking forward. You will be well served with about a 24" extension for your ratched, and a little time spent notching the sensor bracket can help - you won't have to wrestle the bolts in along with the new sensor. A 7/16" or 11m/m (same size) socket with the inbuild universal joint won't go awry, either.
The Camshaft Position Sensor (properly abbreviated SYNC) is located inside the distributor, requring the distributor to be dismounted and disassembled in order to replace it. I've not seen a bad one yet - it's in a pretty friendly environment.
The CPS is responsible for generating timing pulses for fuel injection and ingnition events. It generates a total of six "trigger" pulses and a number of "warning" pulses every twice around.
The SYNC sensor is responsible for basically one thing - telling the ECM when cylinder #1 comes around. The system can function without the SYNC sensor - mainly by "guessing" when #1 is firing, and adjusting it's "guess" until the engine runs - although not terribly well.
Now, when I refer to "notching" the CPS bracket - here's what I have in mind...
(I know, I know - it's a little fuzzy. I'll take a better one one of these days - using the box underneath it as a background confused the autofocus...)
Note that the bracket has one notch extending downward, and one going straight out toward the end. The one notched straight out is the bottom hole, and the idea here is that, with the bolts loosened slightly, you can slip the end of the bracket onto the lower bolt, tilt the thing into place, and use a stick or a long screwdriver to rest upon it to hold it in place while you tighten the bolts. To remove, loosen the bolts and pull the wire. This is now a standard practise here - it's got changing the CPS knocked down to about 10-15 minutes - down from about an hour and a half of sweating and swearing! Significant improvement.
The notching takes about two minutes with a Dremel - five if you're not famiiar with Dremels yet. Be careful to not change the size of the bolt holes - just extend them.
5-90