I have a few thousand dollars on my mac (mostly paid for with student loan money when I was in college... so it cost a lot less), two nice cameras that I could sell on ebay and get a nice digital thingy for, paint supplies I haven't touched in years, a scanner, a Wacom tablet, and well, I could go on and on. A tool is a tool, it's just a matter of how you use it.
I find that the single most important thing I have for artmaking is a bunch of paper (sketchbook or pad of newsprint), two pencils (B and 4B weights) and an eraser. If I can't capture my idea on paper first, I am not going to waste the time trying to realize otherwise.
That said, gems that stand out among my digitally-based tools:
Wacom tablet. I don't know what I'd do without this thing. I hate mice (The Wacom and my Kensington Trackball love each other) and I don't know anyone in their right mind who would try to draw with a trackball.
Photoshop I don't know how they do it, but Adobe keeps making the perfect better with each new release.
Animation Master I've only been working with it for two months, but I am honestly surprised by how extensive this program is. If you look at the image I'm posting to the board, you can see that I've constructed my own marionette system for animating characters to make sprites with. Ten levers and I have all the control I need, it's really a joy to animate with.
Other software: Audio production: Pro Tools, it's basically a digital multitrack recorder; Final Cut Pro: Straightforward Non-Linear Video Editing at it's best; and um, well, nothing else stands out as much as these... But then again, these programs are all geared toward production. They don't try to force a paradigm of artmaking upon you, but rather let you do what you want.
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--You notice that you have been turned into a pile of ashes.