The router—The router is the master when it comes to flexibility. Its potential far exceeds trimming and decorative edge treatments. A router will cut mortises, rabbets, and dadoes, and adding a router table builds in even more versatility, including biscuit joinery and raised-panel doors. But where the router distinguishes itself from all other tools is in its ability to produce identical parts using a pattern.
In this video Dave Heller shares an introduction to wood veneering and wood inlay for furniture making. What is veneering and inlay? They are traditional methods used to embellish and beautify furniture. Veneering is the process of gluing thin slices of attractive (and often rare) wood onto core panels. Inlay involves insetting wood, precious stones, etc. into the wood. Here's a prime example of one of Dave's boxes that incorporates both techniques: Here is an example

Historically, woodworkers relied upon the woods native to their region, until transportation and trade innovations made more exotic woods available to the craftsman. Woods are typically sorted into three basic types: hardwoods typified by tight grain and derived from broadleaf trees, softwoods from coniferous trees, and man-made materials such as plywood and MDF.
The table saw is best suited for making rip cuts, which are cuts along the length of the board, but with a crosscutting jig, the table saw can do just as well on crosscuts, which are cuts across the board. I even use the table saw for resawing thick lumber into thinner boards. The bandsaw is usually the tool for resawing, but any lumber under 6″ wide can be resawn on a 10″ table saw by cutting from both sides of the board.
In my shop I use a large number of Jorgenson F-clamps. I use many of the small clamps, the most useful being the 12" version. Large F-clamps are essential for cinching down parts on bending forms. I also like aluminum bar clamps because they are much lighter than steel clamps, and therefore less likely to damage a carcase should you bang into the wood dur­ing a glue-up.
After years of digging down under router tables, lifting the entire unit up to change bits, and then fighting to get the plate flush again in the table, I chose to spend the money to pur­chase a router table, fence, and lift system. I did a thorough review of these systems, and chose the Canadian made Jessem Rout-R-Lift II kit. The system comes with a solid steel stand, a phenolic table, an adjustable extruded aluminum fence, and their base model lift system. For budget reasons, I did not choose the hefty Mast-R-Lift, but I am quite happy with the lighter Rout-R-Lift II. It will last me a couple of lifetimes, so it is the right system at the right price for me in my one-man shop. Hats off to Jessem for making a great lift at a very rea­sonable price in the middle of a tough economy. The table is durable, and flat. The direct drive lift is smooth and precise. I mated the lift system to a mid-sized model 690 Porter Cable router, which has a fixed speed, and enough power to do any­thing I need. The Jessem system uses a bayonet type mount for the table inserts, a nice touch that makes swapping the table insert quick and simple. As with all my machines, the router table is connected with the supplied dust port to my shop dust collection system with automated switching. 
In each case, we shuffled the bench, jointer, table saw, and band saw across to the top of the stairs, and then tied a rope around each to act as a safety while sliding the machines down the strapping on the stairs. Yeah, the table saw hit the wall, and the promise of a good mud and paint job saved my bacon. The rope worked well, and we were able to get everything down the stairs nice and slowly with­out any major issues.
You sure make “keeping up with the Spagnuolo’s” tough. :) The cart fits my space pretty well. I am somewhat limited so utilizing the space under the lumber rack works well for me. I have the stand alone scrap storage bin also but the extra scrap storage on the cart is a bonus. I always seem to have srcap lumber running out of my ears. I have a hard time throwing away even a small piece of walnut or other nice (expensive) wood.
If your shop is long and narrow, option 2 provides maximum space to the left of the fence for handling large sheets of plywood. If you often work with full sheets of plywood or other sheet goods, you might want to build the table saw into an extension table surround, as San Diego woodworker Pat Curci did in his small shop (see the photo). The surround offers support for large panels, as well as provides an ample work surface near the saw.