I love the June Taylor Shape Cut Ruler, the biggest you can afford the better!
It cuts strips, squares, triangles and diamonds so easily in mass quanities. Kind of like chain stitching.
My teacher at my quilt shop had me use it on my borders and I loved it so much I went out and bought 2.
Here is a demo of the product:
http://www.junetailor.com/shapecutvideo.htm