Dan, my work space that is available for power tools is quite small, about 6′ x 20′. It may seem like a lot on the surface, but a long rectangle is a bear to work in. It requires a lot of serpentine action. That said, I don’t have too much room for large footprint tools. I have settled finally on three big tools; a small bench saw, a thickness planer, and a drill press. I had to forgo the jointer, so I use hand tools to make up for it’s absence (as I do with a lot of my hand tool techniques). I have gotten to the point where I can flatten one side and true an edge of a board reasonably quick. I then finish it up with the thickness planer and table saw, giving me a nice flat board. I guess what I am basically saying is, there’s more than one way to skin a cat, and don’t write off hand tools as a quaint way to experience the past. They worked for thousands of years, and still do! Thanks for the blogs, they make for great reading.
Some hardwoods are becoming very hard to find and are being harvested without concern to their eventual extinction (Brazilian rosewood comes to mind). Not only is this hard on the environment, it drives the price of the wood so high that making furniture out of it is out of the question for most woodworkers. If you can, try to buy wood from a sustainable forest (commercial tree farms that ensure the supply of the wood). Check out the National Hardwood Lumber Association for ways to support sustainable forestry.

Please read through the entire plan and all comments before beginning this project. It is also advisable to review the Getting Started Section. Take all necessary precautions to build safely and smartly. Work on a clean level surface, free of imperfections or debris. Always use straight boards. Check for square after each step. Always predrill holes before attaching with screws. Use glue with finish nails for a stronger hold. Wipe excess glue off bare wood for stained projects, as dried glue will not take stain. Be safe, have fun, and ask for help if you need it. Good luck!