I would recommend:
1)Either a Fluke or Greenlee Multimeter (Volt/Ohm meter) I feel is THE MOST IMPORTANT electrical tool to get.And yes,you can use it on your house too.
2)Dwell/RPM Gauge (If you have a points-type dist.)
3)Timing light that's adjustable.(It's good for setting timing advance that doesn't show up on the stock timing marks.
4)Wiring diamgrams of the vehicle your working on.
Hope this helps,
Charlie