My thoughts..
Plasma cutter- Hypertherm for sure. Or Thermal Dynamics. Go for atleast the PowerMAX 600. The smaller machines will cut 1/4" plate but it's ALOT slower and the cut is messier and will need cleanup. I have a PowerMAX 1000G3, 60amps IIRC, it will haul ass on 1/2" plate and leave a cut that you don't have to cleanup at all to weld.
Welder- I like the Lincoln machines btter than the Millers. Got a Lincoln PowerMig 200/215..(Can't rememebr if its the 200 or 215) Lincolns seem to have a softer/easier arc and also seem to start hotter, thus less spatter and popping/farting at the begiing of a weld on cold steel. Another advantage to the Lincolns, is that you can buy the less expensive Tweco brand consumables. You have to buy the Miller brand stuff with a Miller machine. One thing I do like on the Millers is the gun itself. The Lincoln gun feels alittle cheap and not well balanced. It's also angled waaaay to much to be comfy. It's just awkward.
Air compressor- Get a nice 220 volt 60 gal tank type machine. Ours is 17cfm @175 PSI. It'll actually run a die grinder on full tilt for a just under a minute before it kicks on. and its waaaay quiter than the little 110 compressors.
Electrical outlets- wherever you plan to place your welder and plasma cutter, put two 220 plugs right next to each other. Put two of them next to each other were ever you plan on putting one. That way you can have both machines plugged in at once. The way my shop is set up, I only have 1 220 plug. If I'm welding, and have to make a quick cut with the plasma cutter, I have to stop, turn the machine off, walk over to the plug, unplug it, plug in the plasma cutter, make my cut, then repeat the process again. So much easier to have them both plugged in at the same time.
Chop saw- http://www.dewalt.com/us/products/tool_detail.asp?productID=159
Those things are the coolest things ever. Unless you want to spend $4k on a Brobo cold saw with lquid coolant flood thing etc...Anyways, DO NOT get one of the abrasive wheel saws. They'll drive ya crazy with all the smoke and dust, the noise and inabilty to cut a straight line. And no chance in hell to get a good angled cut with the adjustable fence....when the things says it's set an 45 Degrees...It's not.
Plasma cutter- Hypertherm for sure. Or Thermal Dynamics. Go for atleast the PowerMAX 600. The smaller machines will cut 1/4" plate but it's ALOT slower and the cut is messier and will need cleanup. I have a PowerMAX 1000G3, 60amps IIRC, it will haul ass on 1/2" plate and leave a cut that you don't have to cleanup at all to weld.
Welder- I like the Lincoln machines btter than the Millers. Got a Lincoln PowerMig 200/215..(Can't rememebr if its the 200 or 215) Lincolns seem to have a softer/easier arc and also seem to start hotter, thus less spatter and popping/farting at the begiing of a weld on cold steel. Another advantage to the Lincolns, is that you can buy the less expensive Tweco brand consumables. You have to buy the Miller brand stuff with a Miller machine. One thing I do like on the Millers is the gun itself. The Lincoln gun feels alittle cheap and not well balanced. It's also angled waaaay to much to be comfy. It's just awkward.
Air compressor- Get a nice 220 volt 60 gal tank type machine. Ours is 17cfm @175 PSI. It'll actually run a die grinder on full tilt for a just under a minute before it kicks on. and its waaaay quiter than the little 110 compressors.
Electrical outlets- wherever you plan to place your welder and plasma cutter, put two 220 plugs right next to each other. Put two of them next to each other were ever you plan on putting one. That way you can have both machines plugged in at once. The way my shop is set up, I only have 1 220 plug. If I'm welding, and have to make a quick cut with the plasma cutter, I have to stop, turn the machine off, walk over to the plug, unplug it, plug in the plasma cutter, make my cut, then repeat the process again. So much easier to have them both plugged in at the same time.
Chop saw- http://www.dewalt.com/us/products/tool_detail.asp?productID=159
Those things are the coolest things ever. Unless you want to spend $4k on a Brobo cold saw with lquid coolant flood thing etc...Anyways, DO NOT get one of the abrasive wheel saws. They'll drive ya crazy with all the smoke and dust, the noise and inabilty to cut a straight line. And no chance in hell to get a good angled cut with the adjustable fence....when the things says it's set an 45 Degrees...It's not.
I have a 2 story house and the garage is on the first floor (obviously), and there's a room above it, so ethe ceiling is only 9 feet or so. A lift wouldn't do me any good at all, so a tranny adaptor for a foor jack has to do the job for me. 
I have a decent air compressor now but I plan on getting a much bigger one, so I'll probably go for the bigger plasma cutter.
