Table saw (take a class; there are lots of tricks and definitely some safety concerns). With these you get what you pay for--in precision, power, etc. But they're great for ripping wood and making repetitive cuts. You can certainly get lots of accessories for it as well--as well as make some of your own.

Planer? Not if you're going to be using mostly plywood. I use a good sharp hand plane for the type of planing I end up doing. It's quite satisfying to use as well--but it won't plan entire boards flat, obviously.

Router, yes you will enjoy using that as well. Thumbs-up on the orbital sander too; I like a "random orbit"; swirls are much less a problem.

Enjoy!
-k2 in CO

Im not sure how big you are planning on doing,I like a plainer for rough boards runningit thru this then my table sander,pretty much eliminates alot of orbital and hand sander.
A joiner,plainer,tablesaw,table router,cordless tools,radial armsaw,drill press,drumsander,lathe,a vaccum system, do not need to sweep so darned often.
Are alot of little hand and speciality tools too.Get a feel for what you are going to do.
My dad makes alot of things dressers,cupboards,entertainments,shelves,plate holders,hutches,benches,plant stands,his entertainment stands sell for $1400.00 made of oak just to give you an idea of what you can do.These are just some of the tools he has in his shop,he's retired and only does this for a hobby using mostly oak and maple.
If all you are going to do is slap together 4 sides with an opening and call it a bookstand well then you could get by with just some wood screws an orbital,cordless drill,and a tablesaw.
But if you wanna create and make things with raised panel doors or with glass insets in them or make a pattern in your design to give it a warm feeling then you need to figure out whats best fit for your creativity.

I just got to add he has done this for about 8 years now and he made my wife and I a hutch in the 1st year and i tell you it is nice but still kind of in a evolutinary stage compared to what he does now.I can see things in my house that he has made for us starting with this and going to the most recent we redid the kitchen in oak cabinets and cupboards and a corner revolving pantry and they look like you'd buy them from a catalog ( I say that because a m enards or h ome depot cupboards would not compare) made from 3/4 inch hard wood (not paneling)raised panels and the whole bit.The ones at stores use cheap laminated paneling on the backs.
But my point is you dont need all the stuff right off the bat because you will just be learning how to use them so after you learn say how to router or make an raised panel door,and got a few projects under the belt you may want to try and tackle a hutch or entertainment center.belive me it is that hard to do,notching doors so they overlay eachother to close evenly and snug ,or dove tailed drawers,etc,etc,just alot of little things that take time so it doesnt looked hacked when your done.
Hope this helps.

[This message has been edited by retisin (edited January 16, 2004).]