From a starting out standpoint for wood
1. a nock/point taper tool (I started with the pencil sharpener type)
2. some sort of fletching jig, I think I started with an Arizona easy fletch (it does three feathers at a time)
3. I use ferreltite for gluing points and now have gone to duco for nocks
4. I use a plain old screwdriver with a round shaft to straighten arrow shafts which arent.
5. feathers you could buy precut, but I have a couple of choppers now and save by getting full length feathers by the 100 pk
6 Only other thing I made was a pvc dip tube because I like the look of wood shafts dipped in polyurethane.
I also used testors model paints for cresting and hand crested them until I finally built a cresting machine from a sewing machine motor.