I suspect we'll see a lot of posts about Thompson gouges but here it goes anyway:

My recent favorite is a pair of 5/8" and 1" WoodRiver multi tooth drive centers (parts 149173 and 149174; Woodcraft's version of a Sorby Stebcenter).

At only $20 each they're quite a bargain and have come in very handy for spindles, hollow forms, and bowls. I do a fair amount of multi axis work and in the past have used a standard 4 prong drive center. My new centers provide much better grip and have proven less likely to shift, particularly when only 1/3 - 1/2 of the drive center is in contact with the wood because of the shifted axis.

So, what tool or tools have you purchased recently that has become a favorite?

Jason