So i'm a totally new builder, I just got my hands on my 1st project truck ever, and I'm super excited to get the ball rolling... but I don't own squat for tools. I have maybe a few screwdrivers, and a cheapo 3/8" "GreatNeck" (ever heard of them? me neither) ratchet set. I live maybe 2 blocks from a Sears, with a harbor freight just a few miles away, so I shouldn't have trouble finding anything. Here's what I have in mind so far, but I'm a total newbie, who's only experience is what I've learned last couple months working at a Grease Monkey, so that's what this is based off of. Hand/electric tools only right now. I'll get a compressor eventually, but that's a much further down the line item for me.

Power Drill
Set of combo wrenches
Set of screwdrivers
A few different size pliers
Utility knife
Rubber, ball peen, maybe a 3lb hand sledge to beat that old hitch receiver off with (damn thing is practically rust welded in)
Multimeter
Torque wrench
Sharpies
Masking tape
Electrical tape
Magnetic tray (I learned my less on working on pc's w/ this one - i lose everything)

Are there any other, not so obvious, but helpful things to have around the shop? Things that wouldn't necessarily be considered "tools" but are good to have none the less?

Also, how reliable are these big mechanics tool "sets" like are sold at Sears? Kits like this:
Sears.com

That seems like a great deal for that many tools, and they are craftsman brand, but my experiences with things sold in sets like that, are that they're usually sub-par, and I don't want to deal with that. I absolutely hate buying crap products. It's a waste of money, and I want to buy stuff that will last. If these sets are legit, awesome, but I have no problem cherry picking everything if it's worth the extra money. Just as long as it's not snap-on, because as awesome as they may be, I don't see how anything they make can be worth the humongous price difference over everything else on the market. Seems like you're paying for a name.

 

i would pass on that sear set, you will only ever use about 1/4 of the stuff in it.
you would be better off buying the socket and wrench sets from harbor freight, you can get what you need for under $100
i use the HF impact sockets and hand wrenches in the trucks, they are good quality and i have yet to break one.
and if someone steals them i am not out a weeks pay to replace them likeit would cost with "name brand" tools.
i also use the HF grinders and multi meters. they are cheap enough that if they get damaged it is not a big loss to replace them.
i have 2 grinders that are over 10 years old and still work fine.
each truck has one of the $9 multi meters in it.

 

If you don't want crap stay away from Harbor Freight.
That said, they have plenty of 'serviceable' tools that will get you by until you need something better.
Snap-On has some things (like an extended Honda head bolt socket, or the long bit to remove a 5.0 lower intake plenum) that you 'gotta have today'!

Get sets of ratcheting combo wrenches when they are on sale at the chain stores.
I think I paid $24.99 each for fractional and metric Gearwrench sets at Advance.

Without air, I would say a battery impact driver can be very helpful.

I use my 1/4" DW825 with hex shanked drill bits all the time.
I don't need to drill holes over 1/2" often, sets are cheap at HomeDepot around the holidays. Ryobi SpeedLoad Plus Titanium Drill Bit Set (17-Piece)-AR2074 at The Home Depot
I also use it with 1/4" and 3/8" socket adapters.
$2.99 @ HF 3 Piece Hex Drill Socket Drivers

A Roloc style 1/4" hex adapter for 2" surface prep pads is great for cleaning up gasket surfaces and the goop that others leave behind.

A set of pick and hook tools are indispensable for most mechanics.
(cheap at HF) 7 Piece Pick and Hook Set
Same thing for pry bars.
Pry Bar Set - 4 Piece

Comfortable safety glasses are a must too. (I buy a few pair at a time when I find ones that work for me)
Slag, rust, carb cleaner in your eye will just **** you off, believe me.

 

Milwaukee for power tools, Kobalt hand tools from Lowes are decent. O'Reillys has a flex head 3/8" ratchet that is very nice. I have two, one branded as "GM Performance", the other is a "Power Torque" and both are identical to the Husky one I had years back that's now discontinued. Long handle, with a kick to it so your knuckles clear stuff, and you can flip the handle straight up and use it as a speed handle.
Try to get a couple locking extensions, the ones from Mac with the sliding collar are some of the best I have used. For big stuff, I grabbed a 3/4" drive set from HF a couple weeks back and have been generally satisfied with it. It's not overly well made, but works.
I got the pick set, haven't used it yet though. I also got the prybar set and broke the handle on the largest bar so watch out for that.
You can get a 20% off coupon online before you go, or if you have a smartphone you can kill some line waiting time by looking it up then.