John, could you tell us a little more info of what equipment/cars/trucks/farm machinery,etc that you plan to work on.
Couple of items, I feel are a must: big, solid stationary vise ($1000 Wilton machinist vise 8"-10"opening=wish list), a portable vise(5-6") on a moveable table or 3 legged stand. Currently, I have two portable vises; one stand is regular height, and the other is short. The short stand/vise is used about 25-30% of the time.{If I didn't have it, I would have to stand on a stepstool at the regular vise for some projects.} A portable table is usually nice, because you can set it really close to your project. Heck, I took an old barbecue grill w/wheels and removed the grill and put on some plywood on the frame and my Dad uses it on the farm.
On the overhead hoist subject: I liked the electric chain style where the extra chain is held in a bucket overhead up by the motor. My old shop had a 3 ton like this and I prefer it to a cable hoist. If you are going to work underneath vehicles, I have heard of shops with lighting countersunk into the floor that shines upward (another wish list item). If you work on Big Iron, you may want to countersink big floor tiedowns into the rebar and concrete. This allows one to chain equipment to the floor and use hydraulic jacks to press upward to bend metal back into position.
Exhaust fan in your welding area. I like 6" or 8" bench grinders on portable stands, too. You can grind or "wire wheel" an ackward-shaped part that you wouldn't be able to manuver around a stationary unit on a bench.Have a safety shield/helmet right beside that wire wheel, too. At my Dad's farm, we use a buffer/grinder for the wire-wheel. Remove the buffer on its extended shaft and put on a 6" wire wheel. The entire wheel is open and it helps to clean rust/paint off those ackward-shaped parts.
