All the standard sockets, ratchets and extensions in 1/4", 3/8" and 1/2" drive.
Combination Wrenches.
Dollies for under each wheel to make it easy to move the car around.
Screw Driver Set.
Pliers and Channel Locks.
Vise Grips. Small, medium and large, and a few pairs of welding vise grips.
C Clamps. Small and large.
Cable Come-Alongs
Flourescent Drop Light.
Pry Bars/Crow Bars.
Hammers. Small, medium, large and really big.
Four Jack Stands. The higher the better.
Floor Jack. Get the nice service station size, 2 ton minimum.
4" Electric Right Angle Grinder with a wire wheel.
Air Compressor. The bigger the better. Mine is a 7 hp, 220 volt, 80
gallon, capable of delivering 15 cfm at 90 psi. I had to wire my garage for the 220 volts myself, but it was worth it.
Some great air tools are:
Air Chisel
Impact Wrenches 3/8" and 1/2"
Air ratchets 3/8" and 1/4"
Cut-Off Saw (Round carbon fiber blades)
Needle scaler
4" Right-Angle Grinder.
MIG welder. Mine is 110 volt, which is all you'll need for frame and sheet metal welding.
Argon or Argon CO2 mix shielding works best for body panels.
Oxy-Acetylene Torch Set. You can do some real damage with this but it can be very handy.
Engine hoist for removing and installing the engine. It also works great for holding your doors in place to get
the bolts in the hinges.
Paint spray gun(s). I like the High Volume Low Pressure (HVLP) gravity feed. I have a big one for doing large
areas and a smaller one for touch-up and smaller areas.
Working Dry Chemical Fire Extinguisher(s)