Lathe
I was given one of these for my 28th birthday:

So far I've just been practising by making bathroom light pulls for various friends and family (photos to follow), but great things will follow!
16th December 2005:
I made this a few weeks ago, but have just uploaded the pic (click for full
view):
It's
my 4th attempt, and the finish is almost perfect now. I've also added
three rubber o-rings, where the previous three attempts have just had grooves.
This meant I had to think about machining it to a specific size, rather than
just what looked good.