It would be good to share everyone's favorite bargain and spendy tool experiences. I'll start with a few of my favorites.
Bargain hand tool: Simonds Vixen file $5.00 eBay. I use this as a float to clean and adjust all of my mortises and tenons. It make fitting my joints a breeze.
Bargain powertool: Ridgid oscillating spindle belt sander. $100 Home Depot. I have been using the sander for almost 10 years and it is used on almost every project to quickly sand flat or curve surfaces. I use 3m regalite belts that lasts forever. It also has a lifetime warranty.
Spendy hand tool: Lie Nielsen Rabbet Block plane. $175. I use this to trim shoulders and cheeks on tenons, cut chamfers and use it for all my general block planing needs.
Spendy power tool: Sawstop 3hp ICS $3500, awesome table saw. Accurate and has performed flawlessly for the past 4 years. Only the fence faces needed to be upgraded. It was expensive but worth every penny.