1. Like mikeswoods said....... The table saw will be the center point of your shop. This is where you get what you pay for. Since you will be mostly working with stock that is 1" and under, you do not need a lot of power. What you do need is accuracy which come from a solid ripping fence system. Although a nice cabinet saw would be nice, you could get by with a good used contractor saw and add a nice Biesmeyer, Shop Fox, or T-2 fence. All 3 are rock solid and can be trusted rip after rip without the constant fiddling of cheap fences. If you can afford a new saw, I would recommend Powermatic, Grizzly, SawStop, Jet, Shop Fox, and Rikon as solid candidates. Grizzly gives the best bang for the buck from all of these.
2. Routing.... you can not build cabinets without routed edges and expect to sell. You can start with a good hand router and build your own router table later on as you build confidence and skills. Don't bother buying a router table because you can build your own at 1/5 the price that is much more rugged, and has the features that you want.
3. Clamps...... buy lots and lots of clamps. Some of the new squaring clamp systems are really nice and fairly cheap. When you are done buying clamps.....buy even more clamps. You will be surprised how many clamps you will need.
4. Dust control..... buy the best that you can afford. Wood dust can seriously damage your lungs over time.You don't need a great big system to start out with. There are some really good 2-3 HP. systems out there that will pull dust and chips nicely. Always install a good "micron" rated filter/bag. You can make your dust control stationary or put it on a mobile base.
5. Bandsaw....
Must have sooner or later. Stay away from the 14" and under saws. Most are under powered and require constant fussing with guides and tensioners.
6. Squares.... Buy some quality 4" 6" 8" 12" squares. You can buy them single or as a set. I have a really nice set of cheapo "Groz" squares that are as accurate as my high dollar Starrets. Some guys like combination squares, but I avoid them because even a little dust/dirt in the rule slot can affect it's accuracy.
7. Sanding system...... I won't go there. I still sand everything by hand because it slows me down and I get that one last chance to pick up minor fixable flaws before finishing. Production work would be another story.
8. Paint booth....... It is not a
must have if you keep your shop dust free, but even the cleanest shops have some pesky dust particles floating around just waiting for you to start varnish/Poly work.
9. Marking system....... Pick one system for marking lines and stick with it. It will make a world of difference in your accuracy. It doesn't matter what you mark lines with as long as it constant.
(pencils, scribes, knives etc. etc.)
10. Nailers/Stapler........ 23 & 18 gauge nailers. A stapler also. All the major players make decent nailers and you can buy them in combo sets some times. I own PC, Bostich, Senco, and hitachi nailer and I can't say any one is better that the others.