here would be my suggestion in order cheekyortant
1: a good Table saw (the $99 Delta at home depot dosen't count)

2: a random orbit sander, I have the cheepy Rybi and it works great, (got it
as a temp until I could get better and haven't needed to)

3: a dual base router, don't look at anything that dosen't have 1/2 collet,
the skill dual base for $100 looks like a good beginers model, WOOD ranked
it very high, and make sure it has a locking spindle, the 2 wrench models
are pain

4: compund mitter saw
FGG wrote:

Recently moved to a new home and finally have the time and space to try
doing some woodworking projects. Someone I spoke to about tools (he
happens to do a lot of woodworking) suggested that with limited space,
if I had to limit myself to one tool, he would get a radial arm saw. He
said that you can most everything you need with that tool.

Any comments about that? I have some room in the garage but not
extensive and just starting out I don't want to sink a ton of money into
it. I am thinking - look for a used radial arm saw, and then getting a
router.

I would appreciate any discussion, counter arguments/suggestions and any
advice on getting started (ie good books, magazines...)

Thanks,

Fred