It all depends on what you plan on doing. I had no plans on doing as much as I do...well not at first, but I have a hard time stopping.
It also depends on your finances. I started out with the best that I could barely afford and then kept my eyes open for upgrades.
I have become a bit of a tool collector. I have repetitive machinery so I don't have to re set them all the time. Currently I own three band saws, but I will be buying another ...maybe tomorrow
I have edge sanders and other sanders in storage that I have never used because I couldn't pass up a great deal. I have plans for them, but no hurry.
My most important piece of equipment in my shop if there is one is my wide belt sander...but then we make all our parts in house and sell quantities to other bowyers so they can too.
If you buy a sander, try to get an edge sander with a small idler wheel as you can use it to shape your risers some. I have a spindle sander too, but compared to a edge sander with a small idler...the spindle sander is near worthless.
BigJim