In order of purchase, just my preference, Table saw, Band saw
, Jointer, Drill press, Planer,Dust Collector(s), Router Table, then Drum Sander
If you are going to to do glue ups or book match thin stock the drum sander is a necessity. And as was stated a Drum Sander requires a really good dust collector, even a dedicated one, or mobile one, if you don't have an overhead piping system. The drum sander is also a "thicknessing" sander, so when making joints like dovetails, or finger joints, material thickness uniformity is important. I have the General dual drum 24" and it is an excellecnt machine.
Just for the record, you are finding out what many of us have discovered over the years...in order to go West you have to go North, South and East to get there, and on the way you will acquire many different tools for specific operations. These operations can be done with hand methods or variations of jigs and such, but for efficiency sake the proper tool for the job always wins. Buy one size larger than you think, and save, bargain, research for the best deals and best equipment. There are gobs of tales here where our fellow woodworkers have discovered deals that won't quit, my self included. The Craftsman 10" model 21224 hybrid for $486.00 regularly $1200.00!