[Jon Stratis]

I would recommend (in order of importance):

2 vertical bandsaws
2 drill presses
1 horizontal bandsaw
1 metal break (preferably a finger break if you can find one)
1 sheer
1 Lathe
1 mill

I can't stress enough how drastically getting the break and sheer changed how our team worked and what we could do. It really was rather amazing.

For the vert. bandsaw and the drill press... I would get one full sized floor model, and one desktop model. This gives you flexibility to bring them to competition if you feel the need (I know some teams do). Having two of each really helps avoid congestion as multiple students wait for a machine to be free.

I prioritize the lathe over the mill, just because working with round stock is so much harder without a lathe, and while a mill increases what you can do, I don't think it does it quite as much as a lathe does.

As for a CNC machine... if you can get one, great! Personally though, I see that as being at the bottom of the list. Find a machine shop willing to sponsor you and run some parts every year, and you can use their CNC machine.

Instead, I would spend some of that money on a desktop 3D printer, Makerbot or equivalent (no need to go with an uber-expensive one like a Stratasys). We got one before this build season, and it's rather amazing how much it simplified some of what we do!

Also keep in mind that the final cost is not just in the machines... there's a lot of tooling that goes along with each machine! By at least two of each wearable item (extra saw blades, drill bits, cutting heads, etc) so you aren't stuck waiting for an order if one wears out or breaks.

Consider investing in an initial purchase of significant stock - something you'll then replenish each year as needed. For example, stock up on different sizes of bolts, and keep it consistent (for example, do you want to use 10-32's or 10-24's? Pick one thread count and stick with it! You'll also want bigger and smaller bolts - 1/4-20's, 8's, 6's, and 4's typically). By doing so, you can limit what you purchase in drill bits (tap and clearance for each bolt size you get) and taps - this means you can buy several of each size bit you actually need, instead of a set of bits, 90% of which wouldn't be a good size for your bolts.