So assuming you're building it like
THIS then there are changes for the 1/2 conversion. I don't think I would ever need 1/2" while sparging (I never go past half open on my 3/8), but if you do start using pumps, you'll want 1/2.
The 1/2" parts may actually be cheaper and easier to find. The only exception is the 5/8 washer that's already hard to find may get even harder in 3/4?" that you'll need. 3/4 is a guess, see what fits in the store.
You will also need more (and larger) washers for the 1/2". Again, using the 1/2" pipe in the store, finding the right o-ring should be easy.
The original design uses the existing rubber washer in the cooler (it's white in the pictures). you can't use that for 1/2. With 1/2 inch, you may be able to find rubber "washers" instead of o-rings which may actually be better.
The object is to have an o-ring on the inside and one on the outside, and squish them and the cooler wall between the washers to form a seal.
ALSO, be careful with the stainless braid. You buy a stainless braided sink hook up hose and remove the braid from the outside. Some of the hoses have a silver PLASTIC braid on the outside now, stick with stainless.
You can buy a real long braided hose (icemaker hookup) for a buck or two more than a short one and use it for 2 (or 3 or 6) coolers.
I took the "spring" off the of a spiral notebook and put it in my braid so it wouldn't get crushed (like they do in some radiator hoses). Some say it's not needed, but it was free and I believe it is better.
Brush up on your cuss words because you will poke yourself with the braid once or twice (hopefully not under the fingernail like me)
To your "2 of everything" question, you don't really need 2 braids. I have a 5 and a 10 so both of mine have braids because they swap duties depending on the size of my batch. I'd at least get the barbed fitting so you can a braid in the future - you need a "nut" there anyway, so the barb is futureproof.