The machine I use the most in my shop is the 12" disc sander that I made from some purchased parts and fabricated parts (things used to be a lot more expensive to buy than nowadaze). It is great for shaping metal and wood, sharpening drill bits (nice flat surface versus round grinding stone), and dressing up chisels, screwdrivers and various blades due to the large flat surface.
http://www.tylertool.com/de3112disa.html
You can find it for less on other sites.
I have one of everthing in my garage and use them all but this tool is used the most. A bandsaw is definately a must.
There you have it "the world according to Gus".
Cheers,
Gus