Many Craftsman routers only came with a 1/4" collet. You might try ereplacementparts I think the site is called and try finding that router model and see if a 1/2 collet is among the parts. Partsdirect is another. As for a router table, there are numerous old posts about router tables in the archives here. Just search the forum for router tables.
Someone I consider a master woodworker once told me that a master woodworker is not someone who never makes mistakes. He is someone who is able to cover them up so that no one can tell.