And what's its story?
For me it's hands down my Hioki Multimeter:

I got it years and years ago, and it's the first time I dropped "significant" money on a piece of test equipment. I got it in a kit with a clamp meter, AC voltage detector pen, and non-contact IR thermometer. Of those only the AC detector pen is worth writing home about, but the star of the show is easily the little Hioki. I got the kit intending to resell it and make money, but I quickly found myself constantly using the multimeter.... CONSTANTLY. The idea of reselling it to make money quickly got scrapped. Pro tip: if trying to make money reselling stuff, don't buy stuff you could potentially want/need.
The unit does this affectionate beeping while acquiring a signal that hioki just nailed perfectly. I'm sure in the manual it describes what the beeping indicates. I've never looked it up, but while using it I just
know when I'm on the thing I'm testing, and when there's a readout. I just know. Its continuity is faster than any scope I've ever tested. The word "instant" is thrown around a lot, but this one is really "instant".
It recognizes my clumsiness somehow perfectly and has an auto-power-save that's somehow
never gotten in my way, but always works when I need it to; when I've left it on and forgotten about it, then go back and see "APS" on the display. One click in any direction and it's instantly back. Hioki just nailed it. Truly. It's on its original battery and still has 2 out of 3 bars of battery. This is after half a decade. Wow.
The test leads are also somehow perfect. Their material is great, but especially the 600v tip covers click on and off so nicely, they just feel right, and I keep them on for 99% of my probing.
The whole thing has been through the ringer. The display is covered in lacquer overspray b/c it lives in my garage. Its only black mark is Hioki sticking the finger to 3rd party repair/calibration. No calibration manuals, no service manuals, no nothing published. The instruction manual even says "3rd party repairs not possible" or something like that. It's for that reason my next meter will probably be a Fluke. I wish I'd gotten the version with direct current measurement, but I've never found myself needing that feature.
None of this takes away from my other pieces of test equipment, including those you see in the background on the bench, this Hioki was just first and has stood the test of time.
What's your personal favorite piece of test equipment? What's its story?