It sounds as if I have almost the same setup as you. I have the PRL lift from Woodpeckers and the Wonder fence.
If you are planning on doing raised panels and haven't bought the bits yet, make sure you get the kit that has 2 seperate bits. The "reversible" variety can try your patience.
As far as beginning projects, how about a simple box with a raised panel lid? With the Wonder fence, you'll be able to set it up to joint your stock and even make the corner joints if you have the right bits.
My father always said that if I could make the perfect box and the perfect mitered frame, I could do about anything in woodworking.
Keep us posted.