I thought I would add my 2 kopecks here. I bought my Black and Decker (deWalt) RAS in 1970 for exactly the following reason. I've looked at table saws over the years but never was able to justify buying the one I would really want.
Dad had the choice of buying a radial arm saw or a table saw--he could not afford both. He figured that the radial arm saw could do more things.
So I have plugged on with the RAS, and I have used it for an incredible number of projects: four old houses, farm outbuildings, all the built-ins for a good size motorcycle shop, and on and on. I have also used it for some more sophisticated projects - and BTW Steevo is dead on here:
The best use I ever found for a RAS is for cutting 90º dadoes, such as in sides for bookcases.
More complicated joinery is possible if you follow Zeke's advice:
The thing about a RAS is getting it in perfect adjustment and keeping it that way. Do a compound miter test: set the saw at a 45 for both adjustments. Set the blade down out in the middle of the arm so it just barely touches a perfectly flat and level (to the saw) piece of stock. Hand turn the blade as you draw the saw back and forth. It should just barely touch the stock at all points.
In addition to that test you must also be certain there is absolutely NO SLOP in the carriage, and that the table is dead flat (which is actually how you
start to get what Zeke refers to), I always start with a new one for an important project.
If you take time to get setup right (and really that applies to all machine tools, wood- or metal-working) you can get good results. I'll modestly offer these pics of a clavichord I made from English plans about 15 years ago.
All the case work was done with my lowly RAS (the keyboard was done with a scroll saw and a router table, metal parts on a lathe), including the floating panel lid (all the stuff that looks like extra glue is just dust. it's a farm...):
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If you can find a good book - as noted above - get it! And follow ALL the safety procedures!