The selection of tools for a project deserves equal treatment to the selection of language. Despite the latest advances in hardware, most of the development organizations I encounter are still woefully underdeveloped when it comes to the tools with which they arm their developers. A compiler, editor, and debugger are just not enough. Analysis and design tools are necessary to allow the team to discuss the problem and its implementation architecture at an appropriately abstract level. For projects of any meaningful scale, issues of configuration management kick in very quickly, this is something for which simple tools, rather than programmer convention, should be employed to handle the details.
Testing is typically under tooled.
The most mature organizations I encounter have some form of automated regression testing that relieves the burden upon the individual developer, and furthermore serves as a stabilizing influence as a project unfolds. Other tools such as browsers, intelligent debuggers, and metrics tools all have a role to play as a project grows. My advice is that given a tedious, repetitive development activity, I'd much rather buy or create a tool that does it for me, rather then spend precious developer hours having to do it by hand. Developers are a far more precious commodity than tools. Unfortunately, I do find some organizations have an easier time procuring new developers rather than necessary tools.