This guide has moved, and the new version is better:
Same guide, now with photos of every piece of gear on my own bench, and it gets updated as my kit and opinions change. This gist is no longer maintained.
What's covered over there: soldering iron and tips, desoldering station, hot air, digital microscope, tweezers and hand tools, PCB holders, screwdrivers and power tools, multimeter, oscilloscope, thermal camera, bench power supply, consumables, solder, UV mask, safety and ventilation, mains-safety gear (isolation transformer and dim bulb tester), stocking spare parts, where to buy, and who to learn from.