Micarta, G-10, G-11, ANY fiber and some woods need better than a cheap 3M dust mask, if you want to work on it, you need air supply, dust control and good work practices. PERIOD. For small jobs like sanding, working with soapy water will keep the dust out, but you only have one pair of lungs, one pair and one pair of eyes, the particulates will adhere to your clothing and can be a secondary source of contamination. There is a good amount of information here on bladeforums about the risks of working with these materials.
I'd say the tools that I've used the most include a flat surface, wet/dry sandpaper, various bit drivers most commonly T6, T8 and T-10, dremel with various heads from cutting discs to polishing wheels. Most important is patience, learn the tools and techniques that are most effective, the first time I went for a mirror polish on a blade I spent hours on end trying to fix my work because I didn't take my time, and I didn't research enough.
Get something that you can score metal with, and accurately, measure and scribe before jimping, work on some cheap mild stock or wood to see how your work will look on your knife.
For bigger work, I can't comment as I still don't have a belt grinder, grinding/buffing wheel, jigsaw or router.