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Well since there are no posts here I'll get the ball rolling. My name is John and although I'm currently boatless, my last boat was a sort of larger version ofthe B29. Since I don't have a boat to blow all my cash on anymore, I spend it on tools.
I'll start off with sanders. When I had Southern Cross (which had teak decks) I discovered the Fein Multimaster--my initial reason to buy the tool was the special cutter they had for removing caulk in teak decks. Worked like a champ. Later I used it for sanding and cutting. The new models have a better blade attachment mechanism than the original. For those not familiar wtih this tool, it oscillates the blade through a 3 degree arc back and forth. You can't cut yourself with a blade but you can cut metal with one. They're great for detail sanding or flush cutting.
However, if I could only have one sander for the rest of my life, it would be the Festool Rotex RO-150. This is three tools in one: an agressive sander for fast stock removal, a fine ROS for smoothing right up through grits as high as 4000, and a rotary polisher you can use to buff paint or but a mirror shine on varnished wood. Coupled to an appropriate vacuum (like one of the Festool or Fein vacs) it can be used in your cabin with NO DUST! That's right, no dust. If I wanted to spend my life on my knees (which I don't) I could make a good living redoing cabin soles with one of these and not leave dust in all the nooks and crevices that you will still be finding 3 years from now, like most people.
Both the Fein and Festool share a German heritage and pricing one would expect from tools from the Vaterland. However, they will last forever. Although I have plenty of cheap tools--many of which I've bitterly regretted ever buying--I don't have a single expensive tool I don't love. But that's a subject for a different posting.