Historically I have interacted with world objects by right clicking them. However, I decided to experiment with interacting with the world a different way (which is more like the original Harvest Moon games, or Zelda, etc). You can now simply 'use tool' by hitting the 'e' button (configurable, of course) and the world will be interacted with if you are holding the right tool and use it near something applicable.
What do you think? Which method do you like more?