As strange as this may sound, insulate that shed first thing. Sometimes, these "sheds" aren't, they're just a quick build type of thing.
For your equipment, the shopsmith is a nice "tool" but, having the right tool for the right job is important. Each has it's own design. Not against a shopsmith at all. IMHO, a TS should be the center point in any shop, work in a circle, everything right together yet, not interfering with one another. Also, any chance to purchase a piece of machinery that can or is wired to go either 110v and 220v, get it. When time and money allows, rewire it for the 220v. You won't regret that. IMHO, any equipment that is 220v just runs smoother.
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