Table Saw's one of the four cornerstone tools in a shop. This would be on my "Buy First" list.
If budget is very tight - you can get by without this. If budget is tight, and you've got a lot of dados to cut - there are inexpensive, but workable offeringes. This would be on my "Buy Third" list.
Band Saw's one of the four cornerstone tools in the shop. That said, I got along for a year with a good jigsaw (Bosch, Milwaukee). I got along for another few months with a $99 Delta Shopmaster Bandsaw from Lowes. When I popped for the 14" Jet - things got much easier. This would be on my "Buy Second" list.
Jointer is the third of the four cornerstone tools in the shop. Again - if you buy it - you'll find yourself using it all of the time. But you can buy S4S, or use the other tools to get by. This would be on my "Buy Second" list.
Router would be on my "Buy First" list. See
Spiral bit and edge guide for the router? Hmm - edge guide not necessarily on my buy-first list. One came with my PC router kit (PC 693VSPK) and I've never used it it. Spiral bit? Yes - I use my Whiteside flush trim spiral up-cut alot.
A drill press would be on my "Buy Second" list. I went with a 12" reconditioned Delta Benchtop for $125 from ToolKing and do not regret it.
When it comes to bits - you should *invest* in a good set of one of: Brad Points, Forstners and "regular' plain 'ol" bits. I invested in a good set of Brad Points (WL Fuller and Lee Valley have good ones). I went with a cheap set of Forstners (and have been replacing them one at a time, as needed, with better ones). For regular bits, I like to pick up Black and Decker sets from WalMart. I don't feel bad about tossing them when they're dull.
I started off with a cheapo sanding drum from Harbor Freight. Did the job.
Hmmm... Yeah - they're only a few bucks. But to build furniture, I think you'll need something like an accurate combination square. I invested in a Starrett.
You'll never have too many clamps. I started off with some Harbor Freight and Big Lot bar clamps. Super cheap. Slowly, they're getting replaced with Besseys (I do like those new Irwin bar clamps!) I wouldn't buy a ton of C-clamps, maybe four tops. They have limited use in furniture making (they can squeeze too hard). Nor am I a fan of pipe clamps, I prefer bar clamps.