Here is my list of primary tools:

Dremel Tool, for cutting/drilling cases/controllers/myself
Precision Screwdrivers of various types, for the typical stuff
Magnifying Glass, too find those damn solder splashes and broken traces
Trace Pen, to repair the traces
30watt Soldering Iron, If you don't know what this is used for you shouldn't be here.
Solder, .......
Solder Braid, to remove my solder splashes ;-)

Thats about it. I am still trying to figure out how the hell you people cut those perfect holes for windows and such in your cases......TELL MEEEEEE.

LOL, i only have tools for my PC.
aint got any money to buy some.

To cut straight windows, it always helps to tape a guide onto your case.

If it's a freeform design, just go really really slow.

-Dremel
-Nail clippers (don't ask, they come in handy)
-wire cutters
-dual watt soldering iron
-plenty of solder
-a ton of leds
-electric tape
-flat head screw drivers
-torx drivers
-bondo
-conductive ink pen
-desoldering braid
-solder sucker
-masking tape

thats all i can think of right now.

-Shitty Dremel Knockoff
-Teeth
-Scissors
-Wire Strippers
-15W Soldering Iron
-45W Soldering iron
-Solder
-Hot Glue Gun
-Hot Glue
-Plastic Organizer full of LEDs and Resistors
-Tape
-Jewelers Screw Drivers
-Hex Bit Screw Driver
-Pack of 50 Star and Torx Bits
-Plaster

dremel
drill (makita)
big orange (big ass metal sheers never dissapoint)
various screw drivers
moms kitchen scisors

-getting a 1 speed 28,000rpm dremel multi-tool(gonna use for dvd window)
-screw drivers(poening controllers)
-Soldering iron 45watt&a25watt
-solder juice
-lots of red&black wire
-drill
-permanent marker (sharpie)to be exact
-just alot of tools to do pretty much anything to my xbox and controllers

i heard 1 speed dremels are hard to controll and just burn your xbox?

yep invest in a multi speed u wont regret spending the money

Pretty much what the other guys said. . . but add

Helping Hands soldering station (with magnifying glass and aligator clamps)

A hole saw (smaller than 67mm) to cut a perfect circle out of the case top

Razor blades (for shaving excess melted plastic away after cutting hole)

Mouse sander

Wet sponge (for cleaning/regulating temperature of solder iron)

Goo Gone

Clean Cloths

Extra IDE ribbon cable (hard drive cable)--because it's 30AWG for jumping traces

Extra 3V battery for testing LEDs

Multimeter

perfect hole i take like cardboard of summin and cut a hole in it till i like it. Then i put it on top of the xbox and cut bout l l far away from the sides. then sand/grind the rest. i use sand paper close to the end it look a lot better

The stuff that clutters my work table is:

Soldering iron
SMT soldering station
ESD mat
solder
solder wick
30ga wire
flux pen
precision tweezers
mini screwdrivers
xacto knife
dental pick
screwdriver with torx tips
screw grabber tool
plastic screwdriver (for stuff like pot tweaks)
helping hands magnifier
50x magnifier
wire stripper
wire cutters
pliers
electrical tape
heatshrink tubing
magnet
metallic sharpie
flux remover aerosol
q-tips
mini garbage can

I'm sure I've missed stuff but those things get used just about every time...

not to mention my parts tray containing misc. pinheaders, screws, jumpers, LEDs, switches, test clips, etc. and also stuff that is stowed away for infrequent use like glue gun, dremel, cordless drill, etc.

Well, if you want to get into the little things, I have about 1000 various resistors, zip-ties, heat shrink tubing, diodes of various sizes, capacitors of various sizes, about 3 pounds of various screws, 30 IDE cables, various case fans, and cathode lights, memory chips up the ass.....