Here's an oldie with a twist. Use pieces of garden hose or other tubing to soften the jaws of slip-joint or other pliers so you can grip plated surfaces without damage. The twist? Size them so you can slide them up the handles to keep them handy.
Use this drill bit sharpener with your power drill to keep bits sharp and ready for use. The drill bit sharpener puts an edge on drill bits from in. The 100 grit stone gives a smooth, even edge to drill bits.
Pretty rough looking, but I like the concept with the wire wheel for cleaning rust. Might make a modified version that can wrap around some rusty pipe workbench legs I've got to make cleaning them up easier.