I also vote 8qt clad pot with lid... a good
one... I have two! :)
Even in a pinch you can saute with it if you had to. In fact, the high walls actually make a good semi-spatter guard.
You can pretty-much cook using every cooking method with it. Next on my list would be a 10-12" cast iron skillet (depending on family size), followed by a 3qt clad Saucier with lid... again, a good
one. Next would be a 12qt+ pot for easy stock making.
Here is my personal favorite after checking out pans before buying mine...
All-Clad MC2 8qt Clad Stock-Pot w/Lid
It should last long enough to be passed on to the next generation...