Display Suite

Provides some advanced layout and display options for content. "Display Suite is a module that takes over the rendering of entities."

Focal Point

Sponsored by NBCUniversal, the focal point module seems to have been inspired by the image field focus module

Region View Modes

"A surprisingly simple, flexible layout solution made possible by placing fields in regions. Region View Modes is just a bit of glue to join Drupal's theme regions and View Modes."

Fences

Fences is a great module to clean up your markup. A must know module! As the project page says, "Compare Drupal 7’s default markup for a field:"

CKEditor

CKEditor is new favorite rich text editor however I prefer to use the WYSIWYG module because it seems to have better media module support. This module, however, is needed if you plan to use the Scald module. If unsure, then I suggest using the WYSIWYG module instead.