Jimmy,
I wouldn't want to set up a woodworking shop without a table saw, jointer and planer, but I made custom furniture professionally for over twenty years without a radial arm saw (but I had a sliding table saw for most of that time). Lots of people make good use of one, and some even consider it more important that a table saw (), but I never missed having one.
Bear in mind that you need clear space (usually wall space) both left and right of the saw itself.