I used to have a Thermal Dynamics plasma cutter in my shop. I sold it, planning to buy a bigger one, but a good deal never came along.. I got an oxy/acetylene rig instead (for $250), added a heavy duty smith cutting torch, various heads, etc. IMHO it's much more versatile for general steel fab work and tool making. I've got about $500 in it total, and I can cut any thickness steel I might want. True it doesn't do any non-ferrous work, but I never found myself needing that feature from plasma anyway. Add that the utility of various gas torch heads for forging work, rosebuds, welding tips, etc.. (Bending, upsetting, HT, differential tempering, etc.), and to me, the plasma becomes much less needed. It's got kind of this rock-star status among new-comers to metalworking, but I think it's just about the wow factor. Takes me no longer to setup for plasma than it does for oxy, and all I have to do is change out the tips on the smith head to switch to various ranges of work.
Will I add another plasma cutter to the mix? Yes, at some point I'll have a large TD or Hypertherm unit, but bear in mind that the largest single phase units have a max cut capacity of about 1 1/4", and cost $3,000 or so new, and don't lose much value on the secondary market. I'm not in any hurry, unless a job pops up that justifies it. Bandsaws, shears, cold saw, oxy rig, all rank higher in usefulness to me..