My favorite tool is my Paul Metal Petals thread spool holder. I use it all the time. My favorite feature on my Bernina is the drop feed dog switch and my favorite feature on my Singer is the snap on presser feet. On the top of my wish list is a beautiful Koala cabinet for each machine.

I have to agree with you on the brass seam ripper, hands down the best ripper I have ever used & heed the warning, it is very sharp. A little pricey for me to get it here in Canada but so worth the extra cost.

I love this - gives me more to shop for!
Let's see-
favorite tool (right now) Eleanor Burns Square up ruler for hst
favorite feature- needle down
wish list - more fabric :D

My rotary cutters and non-skid shelf liner. I cut a strip from the liner about 1/2"x 6" long. Can use it with any ruler. Also cuts down on machine noise from the table.

I love the new needle threader "machine" for hand sewing that they sell now and the jell thimbles. I was gifted a box of the clips to hold the fabric while binding, don't waste your money. Specialty rulers are really fun to use and I have been buying them recently to play with.

current favorite, the clover/fonsporter/daley glue pens for english paper piecing prep. One of those things you always wonder why you didn't think of it yourself. I hold all the clover tools in high regard.

New favorite tool - slide lock ruler. I just got it and love it. My strips are now perfect plus I use it to smooth the quilt sandwich. Best feature on machine - knee lift and needle down.
Want list - bigger sewing room so I can have tables for my machines. I would love to sew on one while embroidery machine is working. I now have to move my ironing board and roller cart to even get in the room.

Hm, my favorite tool at the moment is my superior thread spool holder, I can just go and go with that thing. Favorite machine feature is, well, the simplicity. I have a mechanical bernina from 1980, and I love that its always the way I left it the last time I used it. I had a computerized machine for a couple weeks, and since I too am in a small space, I have to put it away when not in use. It was infuriating that the needle position would reset every time I unplugged it and plugged it back in, I broke SO many needles! Wish list, is a design board.

Btw, those who need small space solutions, I found this ikea table and I have 2 on order. The will 'live' as end tables on either side of our sofa, and when I need them to quilt a bed sized quilt, I'll pull them out and extend the sides for that.

http://www.ikea.com/us/en/catalog/products/70290223/

I love Clover Wonder Clips. I use them instead of pins to match seams. They are more useful to me then pins and they don't prick.

One of my favorite tools is my 13" rotating cutting mat, which came in so handy when I was making the Disappearing Hourglass quilt from MSQC for this year's family reunion quilt. I also have to add a possible favorite tool which I have not used yet. It's the Fiskars ruler with a handle with a rotary cutter that you press down on, instead of gripping like a regular rotary cutter. I'm surprised my DH bought it for me, however, with my carpal tunnel and painful right shoulder, I'm hoping it will cut down on pain issues when rotary cutting. I had seen it on a couple of tutorials and I just had to have it, so I'll let you know how it works. I considered it my 46th wedding anniversary gift from DH.