I'm a complete papercrafting nerd -- I can spend hours just browsing through a paper store, feeling the paper, looking at glues, etc.
I recently went into a scrapbooking store and was demo'd the Zutter Bind-It-All.
This is the consumer version of a product that used to only be available to larger offices, print shops, etc. It can be used to bind books with a very slick, professional wire coil.
It looks very easy to use. It can cut through chipboard as well as tougher items, such as cds (imagine making a round book with a cd as its cover!).
Want to know more? Here's the Bind-It-All website: http://www.binditall.com/.
Here's another video that's so scripted and poorly acted that it's hilarious ("Really? That would be a dream. Tell me more!"), but informative: http://www.binditall.com/VideoPage2.html. The video shows the older version. The newer version is pink.
(right now, I'm only making enough money from my etsy site to keep me in my paper supplies and purchased artwork, but as I grow a bit, I hope to be able to add gadgets like this one to my toy chest.)