When comparing power tools forget about the claimed HP. Look at the amperage draw which should be shown on the tag. More powerful machines draw higher amps.
The usefullness of a router depends on it's ability to be adjusted for a particular job and to hold that adjustment till the job is done. Also, routers spin 10,000 to 20,000 RPM. Bearings and armatures that can take that and live are more expensive.
An experienced wood worker can easily get by with a cheap machine. For the inexperienced, trying to master the quirks of a cheap machine and still get some production out may be a hassle.
A top of the line plunge router is over $250. One sold for $40 must have a lot of compromises. You can help yourself out by examining a bunch of different routers before you buy. The quality of the better ones are easily seen.
Charlie

: I'm planning on milling my own strips and I know nothing about routers. Do
: regular routers allow for extending the bit up through the bottom of a
: homemade router table, or do I need to buy a plunge router?

: Also, how many horsepower do I need to get? I can get a 1 hp plunge router
: for $39.99 or a 3 hp for $79.99. I probably wouldn't use it much at all
: except for building this boat, so I'd like to go with the cheaper one if I
: can.

: Thanks.