You can do a lot of spectacular things with minimal tools if you have the time and skills... That said there are some tools that make the job much faster and easier.
I made a birch laminate stock set with a decent assortment of power and hand tools:
http://www.canadiangunnutz.com/forum/showthread.php?t=312384
There is a pic in that thread showing the three power sanders I primarily used to do the outside shaping of the stock set, those suckers were invaluable and made life a good bit easier.
I figure I used...
Router & Table: barrel channel rough in.
Dremmel & router base attachment: Almost everything relating to inleting and detail shaping (butt socket/barrel bands)
Assortment of chisels from 1/4" to 1 1/2": Cleaning up edges of inleting and detail carving. I also used a few small detail carving chisels now and then for tight corners and careful work.
Assortment of files and rasps: Again for fine detail adjustments and almost exclusively for the mid barrel band/sling swivel.
Power sanders (palm and belt): For minor and significant (belt sander w/60 grit) stock removal and shaping.
Band saw: Overall trimming and shaping the blanks.
Drill press: Drilling a few holes and spinning sanding drums for detail shaping.
Hand drill (power): Used to spin sanding drums ranging from 1/2" to 1 1/4" that were invaluable for shaping the knox form section of the inleting. I also used it to drill out the butt retaining bolt hole.
Propane torch: With the air inlet covered this gives a big sooty flame that I used to soot the action while I was working on the inleting.
Workmate bench: Used to clamp (along with numerous c-clamps) the blanks while gluing up and hold the blanks through almost all of the fabrication process.
Its not a huge list but it does add up. I think the main thing was coming up with ways to simplify the process or adapt tools to the task at hand. The stock bolt hole is a good example, I routed a 1/4" groove in both inner sides of the butt stock blank before lamination. I set drinking straws in one side of the groove when I glued it up to prevent the glue from filling the hole I was trying to form. The end result was a pilot hole perfectly centered and aligned for the stock bolt without having to drill it blind and potentially mess up my blank. Obviously that's not possible with a solid blank... but, you see what I'm getting at.
I'm partial to your color choice as well, but then I'm a little biased...
Rock on Rock Soldier!
MB