Wow, that's a heck of a sponsor! Very cool.
Small (and not so small) tools and parts have a way of accumulating on teams. Many of them even prove useful at some point.
I'd recommend touring local teams and even other facilities (university machine shops are great). Perhaps also just walk through hardware stores. That's always fun!
Team 1640 (large) tool list.
I'm no Wisconsinite, but as far as teams, Milwaukee makes me think 1714, 1675, and 1732. I'm sure there are others around that might give some insight. If you can, not only make detailed inventories and organization descriptions, but ask them what they'd change (though what 1714 would ever want to change is beyond me).
And now for my NEMO plug of the day. Tools are very important, organization even more so. (Less frustrating to know you don't have something then to not be able to find it.) Don't forget about things like cleaning supplies, safety (glasses, gloves), food/serving stuff, transportation (trailer, bus/van), spirit items, handouts, posters, buttons, CDs/DVDs (for sponsors) etc, though.
There are several great wish lists/examples out there that may plant some ideas, too:
294,
228,
1511 (for Rookies)
As for pit layout, I believe
"Go MOE!" is a good phrase to start with. Many other teams out there have great layouts as well (especially the crate-to-pit setups), but as of yet I haven't found any as thoroughly documented as MOE's. Not just the design, but the methodology.