I love doing most of the prep work the day before a big cook, more because on the day of the cook, I enjoy having everything laid out and ready for a nice easy day of cooking/drinking beer.
I find it not so fun, when I wake up a hour after I meant to, then rush around to get everything together and food ready by my target time.
For knives, I just by the plastic handled chef/boning knives from Sam's Club. When they get bad, I throw them away and buy another pair for $12.
I would love to invest in a good set of knives, but I'll have to wait until the kids grow up to justify spending the $$$.
22" WSM, Brinkman Smoke N' Pit "He Hate Me" & Various UDS Parts