I have owned a Shopsmith 520 with the special purpose tools such as joiner, belt sander, band saw for some 15 years now and would not part with it. As for tool setup time, once you have done it a few times, it becomes second nature. Think about making a picture frame, after cutting your compound angles, all you have to do is remove the saw blade and put on the disk sander and your angles are still the same as the table is set with them, so now you can sand smooth without having to do anything else. The 12" disk sander function can't be beat, as besides having a large table surface area for your material, you also have the up and down ability of the table and the quill can be extended. Boring holes in a 4 foot table leg are simple to do. Switching to the drill press mode makes for a really great drill press. The DC 3300 Dust collector which SS also sells keeps my shop clean from sawdust. It is a great all around machine and is especially designed for a small shop which I have. I do all my turnings on it and pretty much keep the band saw mounted most of the time. It will cut a 4 X 8 sheet of plywood using the extension tables but I only cut large sheets like that with a portable hand circular saw as I wouldn't cut something that big on the best stand alone table saw. The quality and durability of it are second to none. In my opinion it is well worth the money, especially for a small shop. The only other stand alone tools I have and use is a bench top planner both by DeWalt.
I have a Model 510 upgraded to 520. Like all my other larger tools (jointer, planer, router station, etc.), my SS is on casters and moves around as needed. This is my major sawing, drilling, and dado(ing) tool. I woud not part with it. It is more accurate than most machines. Set up looks tedious--until you do it. Then you find out most changeovers take five minutes or less. The initial investment might seem on the high end. However, it is made in America. You have no problem getting parts if needed. There is a tremendous forum where you can discuss any problem and get unbiased and timely assistance. I have made an entire bedroom suite (kingsize headboard, dresser, and end tables) blanket chest, bookcases, stools, sofa tables, you name it with my SS and with my Kreg jig. Most people think I have an elaborate shop. I answer, no, just my SS and supporting equipment.