Well, Gregory, here are my top things needed to make good models.
- A good hobby knife
- Sprue cutters
- Filler putty (I use squadron green putty, seams, ahem pardon the pun, to work just fine
- Modelmasters paint is the best brand, though I am biased because it is available where I live, and I haven't extensively used anything else
- I also use the Testors plastic tube cement, but although I don't recommend it, I haven't really looked into what else is out there besides the liquid cements.
- A dual-action airbrush (once again, personal preference of the dual), and an air compressor
- Sanding sticks (nail files work well), sandpaper
- Decal solute and solvents (My home remedy for this is vinegar solute, 91% alcohol solvent)
- Future floorwash makes good gloss. It has the same effect on models as floors. Decals also adhere way better on a gloss surface.
- Finally, clamps, tape, and rubber bands. They work great to hold parts together while they set. By clamps I mean anything that will, well, clamp things together.
Hope this helps.