I too have the Rigid oscillating spindle sander and recommend it highly. It is very useful for many things. I also like the blue belts for it as they last a lot longer. A 36 grit will really chew some stuff up in a hurry if need be. I bought 50, 80 and 120 grit drums from Rockler and they are great for handles. I also made an arrow taper jig to shape the knock and point ends of woodies. There was a sale last year and I got it for $175.
The other two tools I love are the Grizzly 14" Extreme bandsaw and the Jet 10-20 drum sander.
I also have a Bosch 4000 table saw that is really useful. I use it for cutting limb tapers. I had made a clamping fixture to hold the limb but have stopped using it. Now I use an 8" marathon, 30 tooth, thin kerf, carbide blade and cut them free-hand. That blade is really nice for this and also squaring up blocks and such. It really chews through hard stuff like cocobolo, maple, etc. The thin kerf is great and the finish is like a planer.
Kevin