All projects being realized in my small laboratory are open-source projects or my own. Some of them are commercial (sold in small series) but most of them are pure hobbyst' unique devices not meant for sale. I'm not an electronic engineer - electronics is my hobby among others. Working on the devices I use a DSO (digital storage oscilloscope), digital function generator, branded multimeter, laboratory DC power supplyl and soldering station with ESD protection. Not much stuff but and rather basic one however it allows to realize many sophisticated projects (unless they're no RF high frequency devices)

Some projects are more 'mechanical' than others and to be honest these are the hardest to assemble. I found doing mechanics most expensive and time consuming - much more that doing just electronics. Good example is the stereometer (commercial project, real hardcore) or Midibox64 (drilling alone was a pain in ass). The fact is that in many cases the mechanics is the body while electronics acts as brain and you can't avoid at least assembling nice GUI for the user so that he can operate stuff. The most 'sophisticated' tool I use to fight with real hardware is a Dremel tool with acompanying Dremel Station. Other tools include saws, screwdrivers and generally well known tools. Nothing special.