If you just want to cut 'n' glue, Daz, it's not too expensive.

Hacksaw for cutting shafts
Sandpaper and utility knife for prepping the shaft tips
Vise for holding the shafts

The rest I consider necessary 'supplies'

Vise pads for holding the club in the vise
2" Masking tape (buildup tape for gripping)
2" 2 sided tape (for gripping)
Acetone (for cleaning shaft tips and hosels)
Q tips (for swabbing hosels)
Epoxy (buy the 'tour cure' or 'fast cure' stuff. 24 hour cure just takes too long)
Grip Solvent
Rags (for cleaning up)


The ideal option:

Air compressor for gripping
Chop saw/Wet Tile Saw for cutting shafts
Belt sander for prepping tips
Utility knife for prepping graphite shafts
Drill press and reaming vise for coning hosels
Vise
Freq. Machine or NF4
Bending Machine
Shaft puller (hydraulic is fast and easy)

Supplies:

Vise pads
2" Masking tape
Acetone
Q tips
Epoxy
Hosel brushes
Swingweighting supplies
Rattle stop
Liquid glass

I'm sure there's more in a well outfitted shop, but you can see the difference.

__________________
True Length Technology Fitter - www.truelengthtechnology.com
It's live! - www.ShipShapeClubs.com
PCS Class 'A' Clubfitter

A new highlight: Golfing the home course on Christmas Day.

I say it too often: If it's golf club shaped, you can play with it.

For the record, I'm a club doctor, not a swing doctor.