First let me thank everyone for their thoughtful advice. Posting to newsgroups can be an iffy proposition at best. You never know what you might get. I fully expected to get at least some portion of smart ass remarks, but what I found was a collection of thoughtful and useful advice - THANKS!
To sort of answer some of the comments in previous posts - I realize that I didn'g give much details and as such I knew there would be some generalized answers. Part of my lack of detail is because I don't know as of yet what direction the woodworking will take me. My first thought is to make and build some stand alone furniture. There are a number of specific pieces that I have in mind. Since I am new, my plan was to stick with straight lines - shaker, mission style etc. Perhaps in my ignorance I am thinking it will be easier.
Due to the advice given in previous posts I am planning to hold off purchasing the RAS and check into a local wood working class. I did like the idea that having the compound miter saw could be moved to make room on the bench for other tools as needed, giving more flexibility in a limited space. I was definitely planning on a router and thanks to your advice I have a better idea of what to look for.
This was a long winded path to get to advice request #2 -
Based on the idea of building some basic furniture - what tools would you buy first?
Thanks again,
Fred