Don't buy cookware with teflon, as it will eventually wear off (nevermind the toxicity), but buy quality heavy duty stuff. I have a set of decent stainless steel cookware and a fair bit of cast iron, where the "non-stick" coating can be renewed (if not maitained) for the life of the item.

Good knives (cookware or otherwise) are a very valuable asset. Invest in a quality set of water stones to maintain them (I prefer Shapton "glass" stones), and you'll have a useful tool for life. I'm still packing a Swiss Army knife and fillet knife I've had since I was a kid.

Tractors and horses can be valuable, if put to good use. However, both require maintenance and fuel. Hand tools and other human-powered devices can accomplish quite a bit and are much cheaper to maintain in the long run.