'Normal' crank length is usually 172.5 which is fitted on standard bike builds as far as im aware.. Thats what I have on my road bike.
When I was fitted for my P3C I was advised to go for 175's as being a taller rider they were the best fit for my dimensions. I cant advise any more than that really i.e. crank length should suit your dimensions.. however it also has a marginal impact on rotational force required i.e. longer crank = less force but larger pedaling circumferernce.
In terms of the crank set (standard double 39/53) or (compact 34/50), it would be a matter of preference and mainly determined by rider strength and the likely terrain you'd be riding.
I would question the need and suitability of getting a P3C if a compact chainset was needed. A P3C is a no compromise time trial bike designed to optimise speed over flat to undulating terrain but is certainly not ideal over hilly courses. Contrasting this a compact chainset shouldnt be necessary except for anything but the most hilly courses. i.e. I had my road bike converted to a compact for IM Lanza last year, is isnt a course id ride my P3C on.
Edited: 02/03/2008 at 17:17