I was recently going through the same decision making process as you are. I went back and forth many times. The options are a little overwhelming for someone new who is trying to figure all this out for the first time. I finally decided to buy a top, and build the cabinet. I went with the table, insert, and fence combo from MCLS for $179. Now, this is my first router table, but it seems to be decently well made, the insert was easy to figure out how to drill for my router, and overall I think it will be very satisfactory, given my skill level.
I bought a new router just for this project. Lots of talk here about the PC and Bosch units, but I went with the Milwaukee 5625, and bought an extra 1/4" collet so that I could use my old bits from my existing Craftsman. Not so much talk about that unit, so I'm not sure how highly it is regarded, but it seems like it will give me many years of service.
There's lots of very knowledgeable people here. I read a LOT here before I finally dove in and started building.