Required tools:

[FFRM]
Storage shelves, some people add shelves to the body buck to store items.
Body storage - most people make a simple body buck.
SAE and metric sockets - deep well sockets for some common sizes are helpful. Be sure to get an 18 mm socket.
SAE and Metric wrenches - (3/8" to 15/17" and 10 mm to 18 mm)
Full set of regular and Phillips head screwdrivers
Full hex key set
Slip joint pliers
Long nose pliers
Pop rivet tool. Most guys get an air riveter to speed up the process.  You can get a cheap air riveter from Harbor Freight (Item # of 6047-3BPB.) or on eBay.
Drill and drill bits. (3/32", many, many 1/8" bits!, 9/64, 3/16, 7/32, 1/4, 5/16, 7/16 and 1/2) Be sure to get good bits!
Caulk gun
Pry bar and claw hammer
Rubber mallet
Razor knife
Wire stripers and crimping tool
1-1/4" and 2-1/4" hole saws
Bench top vise
Tape measure and straight edge ruler
Floor jack
Jack stands
Engine hoist - you can rent one for the day.
Engine stand
Hack saw
Fuel/brake line bender
Tube cutter
Square file
Tire cross wrench
Jig saw
Double flare tool kit - Or, buy your lines pre-flared.
Torque wrench (Click style with 3/8" drive) Eye protection
Gloves
Spring compressor (Mustang disassembly only) Bucket
Set of Torx screwdrivers
The thing between your ears

REQUIRED SUPPLIES
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3-M spray adhesive for dash and carpets
Engine degreaser
Silicone sealant
About 3 tubes
Fluids:
Coolant
Engine oil 10W-30
Gear oil 80W 90 (for rear end) Dextron Transmission Fluid
Friction modifier (for rear end)
Oil filter
Fuel filter
Battery
Spark plugs
5 minute epoxy glue
Black permanent marker
Duct tape, teflon tape, and electrical tape Bodywork supplies Rags
Gojo® pumice hand cleaner
Spray paint (for donor parts, pick a color) Acetone, carburetor cleaner, or other solvent Aluminum polish/cleaner
Aluminum polish/cleaner

Helpful:
Cordless drill (w/clutch helpful, 14-18 volt units are best)
#6 hex driver attachment for cordless drill
Adapter for cordless to use t~4" socket driver
Wire brush or wire wheel attachment for drill
Flare nut wrenches (3/8" x 7/16")
Vise grips
Hand held propane torch
Flat File and round file
Scissors
Aluminum snips
(4) wood blocks, 4.5" high (simulates frame ride height)
Friends
Pizza and beer for previous line item

Peoples Opinons:

[JC] "An air riveter comes in handy if you happen to have an air compressor. Other than that, 99% can be done with a nice set of hand tools. Not too many specialty items needed (except a double flaring tool/tube bender). A good set of wrenches, sockets (deep well sockets are handy), Allen wrenches, BFH (for some customizing), and a little common sense goes a long way. This site helped as much as anything..."

[CE] "I used my dremel all the time. Used the sawzall cutting the bars out of my trunk. Used the sazall on the donor also. I spent $700 on tools during the build. (my air compressor died) Ill check my list."

[RW] "Just my opinion but an air compressor is a must. The bigger the better! Dremels are nice but with an air compressor you can run the riveter, cutoff wheels, impact wrench, spray gun, etc. Air driven tools are more compact and less expensive compared to electric and the tools you can run are limitless. If you get a compressor buy the biggest one your available power can handle. You won't regret it."

[AD] "I am with the lads above...the DREMEL is king. If there is one tool I wouldn't want to be without, that is it. I wore my 'chainsaw sharpening' model out and upgraded to the two speed  Marge down at Ace Hardware threw in this stylish wall unit that I proudly display for my snake buddies to view."

"One last Dremel word of wisdom...my favorite dremel head is the 1.5" fiberglass reinforced wheel. This goes through metal like butter and through fiberglass like water."

[MM] "Clecko's are essential - temporary rivets to hold panels while drilling other holes and final riveting ~$15. No dremel, but a 4" grinder and cutoff wheels. No compressor. Get titanium 1/8" drill bits or better. My drill even has a cord. No air riveter - you spend much more time drilling holes - a hand riveter improves your grip too :-) A 3' long pry bar for getting some suspension pieces into place. I borrowed an engine stand, hoist and the brake line bending and flaring tools."

[pb] "Cleco’s can be obtained from www.summitracing.com or www.aircraftspruce.com. I would not event think about drilling the aluminum without them. I know that summit sells a starter kit with 20 clecoes and pliers for $18 or so. I’d say 40 to 50 clecoes ought to be plenty for the FFR.

Rivet spacing fans are about $40 to $50. Save your dough and make one yourself with a 16 inch strip of lexan and simply drill holes every X inches for perfect spacing. A cheap plastic ruler can also be used instead of lexan. The key is flexibility and rigidity. I drill my first hole, cleco the strip to the hole, and then use a Sharpie marker to mark each hole as spaced on the lexan strip."

Another couple of handy tools are a hand held air belt sander, they use 1/2"x13" belts and are great for deburring panels and stuff and a 90 degree drill attachment. Handy for getting into tight places on an ffr, from Harbor Freight cost $16

Wayne had some pics on his sight of a handy rivet spacing tool."

[al] "Consider a 90 degree drill chuck. Makes it easier to drill in tight places. And about a gazillion 1/8" drill bits for drilling the gazillion rivet holes."

[rb] "A piece of string marked with a magic marker for rivet locations also works nice! Tape the string down and start drilling - fast simple and on the cheep side too!"

[dp] "Cleco's are a must. I can't imagine putting together 2302 without them. I borrowed a small set of 10 from Dior, use them all the time. As far as spacing goes, I used a great idea from the "Great ideas" thread. I used the 2 foot builders square with drilled holes on each side at different spacing, saved a bunch of time."

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