OK, since some of us aren't as mechanically inclined as others, I thought it best if we put together a list of tools that you can't live without, both for the car, and around the house.
If I miss anything, let me know...keep in mind, this is a BASIC kit. Those of us who are more knowledgeable will already have the more advanced stuff.

2 Crescent wrenches
Ratcheting screwdriver set, with as many bits as possible. Must include flathead, Phillips, Torx, Allen, and an adapter for small sockets.

Ratchet set, must include 1/4", 3/8", and 1/2" ratchets, and sockets from 5mm to 25m, and 5/32" to 1".
1 helper pipe, 2' to 3' long.

2 Torque wrenches, prefer click-type, 3/8" and 1/2"
Open end and box end wrenches(suggestions on required size range please?)

Small and large channel-lock pliers
1 slip joint pliers
1 long-nose pliers
1 side-cutter
1 large Vise-grip
Oil filter wrench(whatever type you prefer)
prybar set
3lb sledge hammer
large rubber mallot
Ballpeen hammer
Claw hammer
1' Level
Carpenter'* protractor

two-ton floor jack
two-ton jackstands

Drain pan, and oil container.

I know I've forgotten some, so feel free to chime in.

roll of duct tape

"Open end and box end wrenches(suggestions on required size range please?) "

I'd say in the same size range as you suggested for the sockets. Personally, I only use Metric stuff so I very rarely use standard unless its on my brother'* F*rd.

My additions:

-A basic set of flare wrenches is a must too.
-Long neck funnel
-battery charger (something simple works)
-Jumper Cables
-first aid kit and old blanket to throw in the trunk
-scissors and razors
-Can of PB Blaster
-Can of WD-40
-Paper towels and/or various rags
-multimeter

A little more Advanced stuff:
-Calipers, digital with both metric and standard functions
-pick set
-large assortment of vice grips (handy for all sorts of tasks)
-Bolt extractors

Hmm, flare wrenches I would consider a more advanced tool. Most jobs that would require them are a little above beginner level. Same with the multimeter.

Hehe.. I suppose that depends on the definition of "advanced." I would consider changing out rubber brake flex hoses or troubleshooting electrical shorts to be pretty simple stuff.

Cresent wrenches are, imo, the most worthless peice of crap tool ever invented.
/rant

In all reality, if this is JUST the basics, 1/2" drive is over doing it. Now, if you plan on doing any sort of real work, then yes, it'* needed.

Say, for example my roommate, he just does basic stuff around the apartment, and I'm slowly teaching him stuff on his beat up F150.

His tools consist of:

Ratcheting screwdriver set with phillips head, flat head, allen, hex, and actually safety bits- $20
Basic 1/4" and 3/8" shallow socket set- $15
Hammer- $10-$15
El cheapo drill- $40
5-piece plier set- $15-$20
Jack and jack stands- less than $100
and a piece of pipe to use as a breaker bar- free if you know the right people.
Tire iron- well, if your vehicle doesn't already have one, $15

Really, for the basics, this is all that one would need to do basic stuff, around the home and basic stuff on the car (air filter, light bulbs, etc...).

Ratcheting wrenchs are not a must, but definately a plus. Swivel sockets or suicide sockets are realy nice for hard to reach places too. Dont forget a nice combination of extensions for your sockets. As far as wrenches go, 5/16-7/8" is a common set as well as 8mm-19mm. Channel locks (small and big) as well as vise grips (small and big) are also important.

Wire cutters and stripper/crimpers, the all-in-one tool is good enough.
Hacksaw with a metal cutting blade.
Tape measure.
Chalk or some Wite-out.
Regular masking tape.
Electrical tape.


I would consider a half-inch drive ratchet to be necessary, if for nothing else than doing lugnuts, I've broken a few 3/8 ratchets in my time.