depending on how long you have been gone...what's new...paper cutters have REALLY improved as well as punches.
You can now buy punches that are a lot easier to use (you squeeze handles instead of pushing a button) and store (some have edges that flip up or lock shut). And there are matching corner punches so you can now punch completely around the shape.
Other big improvements... probably Tim Holtz. There are more readymade, high end "designer" products you can buy for scrapbooking.
and last but not least ATG and STICKLES!!!