For cutting I currently use a collection of regular blades and cutters (5). So far I have not found a "this beats all" blade, but generally I prefer the sturdier blades. Only when cutting curves, I use a pointed blade.
Another important blade is a kind of chisel formed blade (1), which is really handy when doing small cuts. Just press straight down. Some pincers (2) are always handy, when working with small delicate pieces. I prefer the ones with curved tips.
Then I have two pointed tools (3) that can be used for minor carving, and most important, when placing rivets. Scissors (4) and nail cutter (6) complete this set.
Sanding and smoothing
Here I use several files and rasps. Especially handy is this set of mini needle files (1) (http://www.rai-ro.de/english/katalog/seite12e.htm) with 12 different files. Then there's the sanding block (2) or Ginding and polish pad (http://www.rai-ro.de/english/katalog/seite13e.htm), plus two realtively crude rasps for major filing.
For drilling I have the small GW drill (1) and a set of very small drills (5) (http://www.rai-ro.de/english/katalog/seite9e.htm). Then the next bigger set of quick-change drills (2) for slightly bigger holes, and (3) a third drill holder for size 3 holes. Finally I have a set of standard drills (4) normally used in power drills, but I use them only with my fingers - slowly turning. The reason for this is, that with a power drill I often lack the control, and more than once, the plasticard snapped and broke. So, just manual drilling for me :)
To glue printed plans and templates to plasticard, I use rubber cement (1), that is a temporary glue. After cutting you can easily peel of the paper, and any residual is rubbed of. Very handy!
Than the standard plastic glue (2) is what I use for most of my bonding. Every now and then i use some super glue (3) when I work with metals.
PVA (4) is also very good, and I use it when I work with different plastics and also on metal.
Well, no work without rulers.
On top you see a small water level, that I use on larger projects, to ensure everything remains perenticular. Then there's the curve ruler (found in graphics departments or here http://www.conrad.de/goto.php?artikel=777354) which is awesome when cutting curves - but since it is plastic, you have to be carefull with the knife :)
Then the set square for small lines and cutting, measuring angles. And finally the large metal ruler for all major cutting.
Pots and tins
Never throw any away! You can always use those small tins. I prefer small cream pans - they smell good too *lol*.
Here you can see that I always have a stash of rivets in different sizes, some angles, and hex rivets ready to use.
Never throw any plasticard pieces away - no matter how small or oddly formed they are, you can always use them for something later - many pieces can be used when cutting discs (http://www.rai-ro.de/english/katalog/seite35e.htm at the bottom of the page), or if nothing else fits, you can use them go punch rivets out of them.
And this is my most important tool!
My light-lens combo - http://www.conrad.de/goto.php?artikel=804150 .
I don't know what the real name is, but this baby is soooooo handy! The lens is great for looking at details (also when painting) and you alsways have the proper light.
I would never do without it :)
Well, I hope this gives you an idea of what I use.