I think tool sets are great, but it really depends on the guy and as Peggi says, how personal it is.
Right now, the gifts I'm dying to have an excuse to give the men in my life are not a tool set, but rather a specific and nice tool. All the main guys in my life are generally very outdoorsy, and several of them are the sort that "has everything." I'm also really into outdoor stuff and came across this particular manufacturer of axes and hatchets: link
For the right guy, I think one of those would make an AWESOME gift. If you live in an area with lots of woods, where it's cold and you have fires a lot, every guy I've spoken to who has one SWEARS by their splitting maul. One even said he now gives them to other people too, and that it may seem silly and ridiculous at first, but then they're like "Holy shit I can really chop wood this is awesome!" He even said one person who had originally scoffed at the gift then became so enamored that he actually took videos of himself chopping wood. LOL! Another one of my friends is an avid hunter, and another loves to backpack and camp (and is also obsessed with western films). Some of the smaller versatile all around hatchets and axes seem like cool options for them. They are really high quality "gift worthy" products, supremely manly, unique, and "the sharpest thing in the store." What guy wouldn't want that? They're also eco friendly, great looking, and come with a fantastic warranty.
But as said, it's definitely something that's really person specific. There are many men that would never ever use an ax ever lol. If you think there's a tool set or something tool related that you think your man would love, would use, and would come off as more personal than "guys like tools, right?" then go for it!