| You will also find that perhaps the best model tool is a Dremel Tool; be | sure to get a Robart Tuf-Grind Cutoff Wheel for it. Don't opt for a | cordless.
Go ahead, opt for a cordless. To be more specific, the Dremel Li-ion cordless. It rocks. It's just about as powerful as the corded model, and only costs a bit more. And it's cordless.
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Do skip the 4.8v NiCd powered dremel that's around $20 or so, however. It works, but doesn't have much power and doesn't last long.
But that Li-ion dremel, it's my favorite power tool. :)
| One last item I'd get would be a Radio Shack digital Multi-Meter.
Instead, get the multimeter at Harbor Freight Tools that's usually on sale for $3 to $4 instead. In fact, get four or five of them. Or more, for the same price as the Radio Shack version.
They're not going to put Fluke out of business, but they're quite accurate and do most of what is needed.
| While there, get a small soldering iron and rosin-core solder for | electrical work.
Actually, you don't really want a small soldering iron. The small ones are for delicate electronics work, and that's mostly not what you need for R/C. I get the most use out of the 80 watt soldering iron I bought at Fry's for about $13.
(Though I do have small soldering irons too, and occasionally do use them on R/C stuff. But that's the exception rather than the rule.)
Avoid the soldering guns. Irons are better, as they can store up some heat and so you can solder things more quickly.
| Have someone teach you how to solder leads, etc. Use the meter to | check your batteries.
Do be aware that without some sort of loading, it's not a replacement for an ESV. Red's site does talk about that, however.
| Stay away from 'gadget tools' like hinge slotters and sanders.
... at least at first. I'm pretty happy with my Z-bender, for example, even though you can do the bending yourself without it.