A great place to look is on preschool teaching sites ... I used to be a preschool teacher and they have great websites dedicated to what types of toys you should be looking for, what types of activities to be doing and what not.

I would definately echo the art supplies ... this is the best time to get them really involved with creativity ... and although it seems like it takes lots of time and is messy its definately worth it the skills that they will be developing. I always purchase my art supplies in bulk online or at school supply store and make sure to have lots of variety (an easel is really fun outside in the summer as well!) just make sure when you are buying your supplies you are getting things that are fit for toddler age (paintbrushes with big handles and lots of bristles, spill proof paint pots etc...)

A sand and water table. My son would rather go on our patio and play at his table than he would go to a playground.

My 15 months old son's favorite toys aren't really toys. He spends a good part of the day moving things (large stereo speakers, dining room chairs, ottoman, etc.) around. He also enjoys banging the pots and pans and removing items from drawers and bookcases.

Actual toys he likes are any truck, blocks, and books. He loves books. He sits and "reads" them in his tent. Fave books are Baby Faces and Cerditos.

Toys for imaginative or pretend play.

I can't remember if I mentioned that in the original thread, but yeah, toys that let toddlers imitate mom and dad cooking, cleaning, fixing, building, organizing, etc. Toys like this last a bit longer, too. A play kitchen can last through kindergarten and first grade.

I'm about to invest in a climbing dome. If you have an active tot who loves to climb, something in climbing equipment should provide amusement and hone gross motor coordination. Kids don't get enough opportunities to climb, run, and balance these days.

Re: preschool equipment, I've looked at a number of companies that sell preschool equipment, and the prices are outrageous. I'm not shelling out $1500 for a mushroom house, for example. I would encourage parents to look for used stuff on Craigslist!

a pre-school sized backpack!! that way they feel grown up and independent, and carry their own snacks/crayons/hot wheels :)

my son has this, and its dimensions are deceiving; it's actually a great size and not bulky or heavy:

http://www.campingstation.com/minnow-p-2076.html

i have no experience with these but they're so cute!
http://www.sleepytimestore.com/home.php?cat=53

these get lots of rave reviews:
http://www.fourpeasonline.com/index.php/cPath/24

land's end, ll bean, and PBK make preschool versions as well.

Books, books and books!

play silks! lots of different colors of them. you can use them for dress up, making little houses, wrapping "presents", etc.

a set of lyra face pencils.

a stokke chair.

potty chair with removable seat so you can switch from potty chair to regular toilet without buying a separate item.

patience!

Learning Tower! How could I forget that one. Indispensable.

Our younger child is about to turn 2. From age 1 to 2, his fave toys were a baby doll stroller (to push stuffed animals and dolls around on outside and indoor strolls), small wooden trucks and larger plastic construction equipment (e.g., a backhoe), his toy kitchen and pretend food, and megablocks (bright plastic lego-like building toy for smaller hands). All of these toys will evolve to be used in more sophisticated ways this year. The toy kitchen is morphing into playing "store," now that he has a toy cash register.