An Atomic disassembler is a fairly useful tool that replaces your Sword, Pickaxe, Shovel and Axe into one item (just like a Paxel).
It digs faster than a diamond shovel and pickaxe, chops faster than a diamond axe and kill mobs in only a couple of hits. However, the charge doesn't last very long. But you are able to change the efficiency by shift and right clicking. Note that the kinetic generator on the power armour will charge it as you walk if your power suit is fully charged.