Hi Bret
Wouldn't even consider the cheap Chinese routers, not substantial enough to cut ally in any respectable time frame, from the last line of your post it appears that your best option would be a small milling machine if you are just doing facing cuts, however if you intend to drill precise holes or profiles a CNC mill would be a better option but your lack of budget seems to rule that out, also you would need the required skills to draw your design in a suitable CAD/CAM program. If your projects are simple comprising just flat faces ect this sort of work can be done on a lathe with a 4 Jaw Chuck, if you have the available space for this sort of kit, doesn't have to be anything fancy, might find something on a well known auction site.
Regards
Mike