I think the devil is in the details here. I'll apologize up front for picking on you (that is not the intent), however, this struck me as a particularly good example. The cutters and needlehose are only 6". With the cutters I'd go with an 8" for leverage. The needlenose I would get longer first (for reach), and later get something smaller if I needed it, but I could live with a 6" if I had to. The slip joints are small at 6" (again, I'd look for 7-8"), but in my experience, this is where 99% of the box stores fail. They just don't have good teeth on them and slip far too easily. Here I've learned after buying the budget stuff (boo to my craftsman pros), that it's worth a few bucks more because I'm often grabbing something that has no tooling for anything else in my box to bite. Finally there are the channellocks, which 9 times out of 10 you need for leverage (on the car). Bigger is better, and 10-12" should do, but 8" is of questionable value and the jaw might not open far enough for a number of household.
That's not to say boxed sets aren't a good value, but you have to look at what you're getting. Most time, from a box store, these sets are built to meet a price point. They aren't built for utility, so they will leave something to be desired there. If you're buying another good set of set of slip joints and channellocks in a year, you see where that leaves you. Then again, if I had my way, I'd get the channellocks, needlehose and slip joints first at roughly $70 (new) and put off the purchase of the other two until something specific calls for them. If I still wanted to save money, I'd look at used channellocks and needlenoses, but I'd still get those slip joints new or almost new because those teeth can wear with use.
Anyway, even though I'm coming from a perspective of "buy once and buy right" (which may not agree with you), the point is you should look at what you're getting in the boxed sets and how functional they are for your purposes. And that can be hard to judge if you haven't worked with the tools, but a good rule of thumb is to glance at the offerings the stores carry from Klein, Greenlee, Knipex, and Channellock. If their cutters are 8", there is probably a good reason for it. If their channellocks start at 10" and not 8", that should raise an eyebrow.
I agree, the devil is in the details, and I don't take your response as picking on me in any way shape or form. I hope my counterpoint is taken the same way. That was an example of a tool kit, and I compared it to a 6" Knipex cutter. For the record Knipez also makes a 4 1/4 cutter.
http://www.homedepot.com/KNIPEX/KNI...Id=10053&langId=-1&storeId=10051#.URG7hHy9KSM
I even agree with most of what you say about the sizes of tools too. That said, I use my 6" cutters way more than my 8" and I have both. A whole lot depends on what you are doing. I completely agree about the 8" needlenose, the reach is very important, and if I had to choose to keep only one pair it'd be the 8". I also use my vise grips more than anything else, and for things that a slip joint or channel lock would do just fine. In fact, there's very little I use a slip joint plier for at this point, though I do own both a 6" and 8".
http://www.homedepot.com/KNIPEX/KNI...Id=10053&langId=-1&storeId=10051#.URG1NHy9KSM
What I have to ask is this, are you a beginning guy just starting, a seasoned DIY guy, or a guy who works in one of the trades. My guess is at worst you're a seasoned DIY'er but most likely a professional. I am mostly a DIY person, but have done some contract jobs on the side (both auto and construction), both for individuals and for companies. I consider myself better than most DIY people, but not in the class of a skilled tradesman. My day job I sit behind a desk.
The point being, if the teeth start wearing out on your 8" needlenose, you can go to the local Lowes and have them replaced. They aren't going to all wear off on one job, and if you do see some wear starting, get them replaced. I've used mine for over 10 years without any issues. I have yet to break one. I also have some hand me down Klein needlenose that need replaced for the exact reason you mentioned. My suspicion is they're about thirty years old. From what I can tell they've been well used and held up well.
I picked up this set below for $9.99, hard to go wrong with a lifetime warranty tool for that price.
http://www.lowes.com/pd_284370-16878-50886_0__?Ntt=284370&UserSearch=284370&productId=1240723&rpp=32
If you want the same thing in channellock the 10" is $15.98 (they also make a 6 1/2 channellock)
I have the craftsman raised panel combo wrenches and they have taken a beating from me. When I replace calipers on a car, I usually put the wrench on the bolt and beat it with a 3lb mini sledge to break them free. I live in the rust belt, so...To this day I have never rounded a bolt, or damaged the wrench. There are some people here who think they're junk. To me they fall in the buy it once catagory. The Snap On crowd would disagree.
And don't get me wrong, I do buy some "good" tools. I have a very good collection of power tools. Almost all of my power tools consist of DeWalt, Milwaukee, Makita and my Porter Cable contractors saw.
The point? You can buy some good tools that won't break the bank, and for most DIY people will last a lifetime. The added bonus? If they don't last that long, you can drive down the street for a replacement.
In the end, a quality tool will last and won't fail at a horribly inconvenient time. Both are worth the expense despite the upfront cost (that doesn't mean you have to drink the kool aid, there are lots of options at different price points). Third, buy some basics to get you started, and then focus on the tools you need for the project at hand. As Davefr mentioned, there is a lot of different stuff that can require a broad range of tools. It'll take some time to acquire it, let your projects dictate where you start.