There are 15 Liberal Arts schools with engineering per this list: http://www.findengineeringschools.org/Search/Special_Unique/liberal_arts_colleges.htm
The smaller ones (Mudd, Swat) offer only general engineering (no specialization). There is no doubt that there are fewer toys, but the trade-off comes in exposure to both individuals and ideas.
I am the parent of a Swarthmore Engineering Grad (in 7 days), who is turning down jobs with both direct and indirect engineering relationships. Unsolicited teaching, consulting, and engineering options keep popping up, and are making it difficult to select a path (because so many are interesting). The money for most of them is better than expected.
If you know you want to be a chemical…or mechanical…or petroleum…or whatever engineer, then I would suggest a bigger school is a better option. If you A) know you want to go to graduate school, and/or B) aren’t sure the type of engineering you like (or even if Engineering is for you), then a school like Mudd or Swat might be a great option.
All Engineering grads spend senior year on a thesis (E90), which is presented at year end. The entire graduating class (plus friends, roommates, etc.) sits through everyone’s presentations over 2 days. Everyone. They know each other, and help others with projects that are diverse. Here is a link to the presentation schedule this spring.
It’s not for everyone, but it has been a great experience for my engineering grad.