Unless you're going the hand tool purist route, the table saw is IMO the central tool in the shop. It can rip, cross-cut, and cut joinery like dados and tenons. So you want a good one with a solid fence that won't frustrate you. I haven't been in the market for one in a while, so my suggestions will be out of date, but I'm sure others here can help you.
When you're starting out you'll probably be buying your wood S4S: surfaced four sides, so it's smooth and pretty much ready to go. This is how all the wood at the big-box hardware stores comes. Wood from specialty dealers will come rough, and you can surface it yourself with the right tools ($$$) or have them do it for you for a fee ($).
It's probably best to start with a project in mind, even if it's shop shelving or something that doesn't have to be heirloom-quality.