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Just about any reliable drill press will do but one specifically set up to drill metal would be best. One where you can get the speed really low. Bench grinders are not all that good though some have learned to use them. Then, as mentioned there would be a good selection of files from a large bastard file to seconds and smooth files. Of course this assumes that you are planning to make knives by the stock removal method. If you want to forge your blades then you will have to add a forge and anvil of some type.
Actually you may need a forge if you are doing stock removal to heat treat the blades. To keep the cost down it would be best to build your own. An alternative would be to send your blades out to a heat treater but most of them only so air quenching steels.
If you do heat treat your own blades you will also need an oven to temper the blades in. This can be the kitchen oven if you are using simple steels, with the Chief Cooks permission. Or you can use a toaster oven.
For shaping the handles I would recommend cabinet makers rasps.
Doug
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