I'm just a hobbiest, but a more 'industrial' sized hobbiest I guess. I REALLY love the drum of a belt sander for shaping necks, whether it's my 4X36 bench top or my new 6X99 edge sander. I found my heals looked blocky with a spoke shave. The drum of a belt sander also carves those belly contours and willrough out an arched top for me. I also find those sanders useful for radiusing fingerboards, particularly the edge sander because of it's 37" platen. I think a larger sized bandsaw, like the Delta 14" w\ riser, (which I may be getting REALLY soon!) is a must. Depending on the type of finishes you want to do, you need a compressor, the bigger the better. Not really sure what kind of gun is best, I just have a touch-up gun. A floor model drillpress also helps for side mounted jacks.
Hope this helps a little.