I made one entire kitchen with a router including a router table - home made. A shaper will allow single cut raised panels and has many other benefits but they are not necessary for a hobby shop. My current router table had a home made screw adjustable lift and the top raises for bit changes. The top is a sink cutout backed by plywood and edged with maple. I do not use a router insert either. The motor in my router table is a Porter Cable 7528. It has a lot of power, at least for a router. I have also used one of my PC 690s to make raised panel doors. I had to do the panel raising in 3 or 4 cuts but it cut the cope and stick in one pass.
I had a router table capability in the extension table of my last table saw but I did not like that because it seemed like I needed the table saw when the router table was set up or vice versa. If I was more organized it would have undoubtedly worked better.
The normal router advice is very sound in my opinion. Buy a mid sized router set with a fixed base and a plunge base. It is probably best to go to a local retailer and handle them to see what you like. All the major brands have these sets, Bosch, DeWalt, Porter Cable etc.. The Bosch seems to get the best reviews but I like my Porter Cables just fine and others love their DeWalts. I noticed several of the plunge bases now have dust collection hook ups which my old PC690 lacks (I think the current 890s have it). Mid sized routers will work fine in a router table and with two bases you have the option to mount the fixed base to the router table and then just move the router between bases as needed. The advantage of the mid sized is it works well for both hand held and for router table use. I like my little Bosch Colt for light duty and my big PC 7528 for the router table but I could do what these routers do with the 690s. They are heavier than the Colt and less powerful than the 7528 but they are better all around routers.