Well as for dollies you choose a dolly that matches the contour of the panel, doesn't matter if it's a heel dolly or rail dolly. Never pick a dolly that has a lower crown or is flatter then the panel as it will flatten out the panel. Pick a dolly with too much crown and it can stretch the metal out pretty quickly and create a high spot. Pick a dolly that matches the crown or curve the best erroring on the high side.
I don't use shrinking hammers or dollies they are simply a gimmick tool and IMO can cause some severe damage that can't be fixed.
A bumping hammer is typically just a heavier headed hammer used to initially start the repair. A finishing hammer being lighter in weight is used to do finish work on the dent.
Pick tools are used in the final stages to bring up low spots. Used correctly they are a great tool, used incorrectly you will have a severely damaged panel. The sharper the point the smaller the spot it will raise but increase the potential for damage.
This should help you out some
http://www.chevelles.com/forums/showthread.php?t=333455&page=2
I have probably close to 200 different hammers and dollies and use only about 4 dollies and maybe about 3 hammers and don't use those very much as I use a slap per in place of the hammer...Eric