Non-Standard Miter Slots - This one is a downer. One of the primary advantages of having a table saw is access to jigs that expand the saws functionality. This is a major issue if you plan on buying after market jigs. Given that we are limiting the cost of this buildout to $500, I am guessing that after market jigs are probably low on the priority list. Your going to want jigs once you start researching what they enable you to do, my advice is to build your own - there are plenty of plans online.
On the 100/300 grit combo stone: absolutely, positively NO – and I’m a woodworker by training who sees sharpening of tools as a means to an end and not as a religion. DMT bench stones are soooo cheap in the US (they cost as much as 3 times as much in ROW) that you should not waste (expensive) time with Chinese carborundum stones or EZ-Lap …err … junk.
In addition to the type of finish you want, the location of the final installation should be considered when choosing a hardwood species. While it won't have as much bearing on furniture pieces to be used indoors, you may want to consider some more moisture-resistant species (such as cypress or the ever-increasingly endangered teak) for outdoor projects. Again, your local woodworking supplier will be able to help with this decision if you are unsure about what species might work well for your particular application and climate.
The solution to potentially wedged boards on a jointer is to add a planer to the mix. A planer has a flat surface with a cutting edge that is exactly 180 degrees to the surface. This allows you to position the jointed edge flat on the planers surface and make a cut to the opposite side of the board that is perfectly square. As an added bonus, the planer allows you incredible control over the thickness of the boards you're planing.
"Plaintiff never complained of discrimination to the on site owners. Moreover, Wirths invested a great deal of their personal time counseling Plaintiff to become a successful supervisor and Plaintiff never complained of difficulties with her direct supervisor even though Woodworker's Supply had and enforced (1) an antidiscrimination policy, and (2) a mandatory requirement to immediately report all incidents of discrimination."
I wouldn’t give up on Craigslist or garage sales.. For around $1K or less, you can pretty easily find the four big ticket items (TS, BS, Jointer and Planer) and have the extra $2K to spend on accessories, material, DC, other goodies, etc. The key is patience and persistence, and if applied correctly, you can have a fantastic setup for very little compared to purchasing new. If you are setting up a business, you don’t usually have the time to scour for good deals, but for a personal shop, there is no pressing need other than that itch to get something done.