The Scriptures weren’t written in a vacuum. The 66 books of the Bible were penned at very different times in very different cultures, long, long ago. Therefore, understanding the social and historical background to the biblical text is essential for understanding the Bible in the 21st century world of cell phones, Facebook, and iPods.
Two outstanding resources in helping you in this area are: 
The IVP Bible Background Commentary: Old Testament
The IVP Bible Background Commentary: New Testament
Both volumes provide helpful insights into the historical background behind each text. They draw upon secondary and primary sources to shed light on the given passages they treat. They are both written in a non-technical fashion, so they’re accessible to every reader. Craig Keener is the editor for the New Testament volume. 
IVP is a superb publisher for Bible research tools. They’ve put out the seminal Dictionary of the Bible series (the volumes I use the most are listed here), which I find highly valuable.
As far as Biblical tools go, you’ll want to have these resources. Just click the links above to order the volumes at a great discount.
I love them both as well. I have a commentary and Strong’s Dictionary of the bible. I have so many resources because I am three classes short of an Associates in Biblical Studies with Moody Bible Institute in Chicago IL. Great post!
I use Olive Tree Bible Reader on my droid and these books are available as a bundle or one at a time. The bundle is 25 bucks. I love having this kind of information at my finger tips and with me all the time. My paper bible is gathering dust because I just use the droid all day long. I have the Word and all the software tools with me all the time. I also have Complete Word Study Bible on Olive Tree.
Greg
I have them both in spanish. Great Books!
Hey brother – Great tips. Here’s a few…
How to read the Bible for all it’s worth by Fee
Listening to the Spirit in the text by Fee
New Testament History by Bruce
Paul by Bruce
Are all very helpful, i’ve found. Thanks Pete