Power Tool Dragon. In all likely hood, most people would gloss over it in favor of Black Rose Dragon or Ancient Fairy Dragon as far as lv7 synchro monsters go. It's a very good card, if you use it the right way. It's a deck thinner, it can keep itself alive through the tributing of equip spells, and has a decent amount of attack, which can be bolstered by the equip spells.
the way I use it is, should I get the cards for it, I'll synchro summon him and start thinning my deck of my equip spells, to make way for cards that I really need like Summoner Monk or One for One. I'll equip it with one, maybe 2 cards and basically set myself up for other synchro summons with it as a wall. It's incredibly easy to summon, as well. The Fabled Cerburrel and The Tricky, Marauding Captain and any lv4 tuner, etc.
Strategies and game play:
Normally, if I should summon Power Tool, like I said above, I'll start thinning the deck. With a 47 card deck and 8 equip spells, and the fact that the majority of synchro decks I've seen(and built) search the deck a lot, the odds are you should be able to pull what you need, even if you're only allowed a single copy of the card, like Reinforcement of the Army and One for One.
Combos with other cards:
You could combo this relatively well with Evocator Chevalier and Phoenix Gearfried, as both of them have an effect that uses Equip cards. search for the equip spells with Power Tool, play them, then tribute them to Chevalier as needed to keep the field clear of most threats. Or, use Phoenix Gearfried to negate spell/trap effects that target a monster on the field and, if your opponent used a spell, get a free gemini monster of any level.
Ways to counteract it:
It's pretty easy to defend against, honestly. Solemn Warning, Bottomless Trap Hole, Divine Wrath, etc. This, I believe would be the only downside to using Power Tool Dragon, in my opinion.
Can thin the deck, making it easier to draw key cards
Hard to destroy if you have equip spells
Easy to summon
Decent Attack and Defense for a lv7 monster
Easy to stop, especially with the current meta game and cards like Solemn Warning or Steelswarm Roach
Without Equip spells, it becomes an easy target for destruction effects and a large number of monsters
Power lies in its effect, so if effects were negated, then it would be useless.
It's available in the OCG and the TCG and only in foil, either from collectors tins or the Raging Battle booster pack, to the best of my knowledge.
Artwork and aesthetics:
Aesthetically, Power Tool Dragon is slightly comical, and considering it's the ace monster of the Morphtronic archetype, it's understandable. The effect reflects the artwork in that Power Tool Dragon has a screwdriver on one arm and a shovel on the other, which symbolizes that it searches for equip spells.
Overall, I'd give Power Tool Dragon a 7 out of 10. With the right hand, it's incredibly easy to summon, even on turn 1, allows you to thin the deck, and is moderately annoying to get rid of. On the down side, it's easy to kill without equip spells, being next to useless without them.