Oh, boy, here we go!

I own both, but if I could only own one or the other for boat building and paddle making, it would be a GOOD band saw. The higher end saws will do most of what a table saw will do with somewhat greater safety (no chance of kickback and little exposed blade). Lower end saws typically don't come with fences, which seriously limits their versatility. The better saws also vibrate less and therefore cut smoother. A bandsaw can be used to rip strips, cut out forms, cut compound miters on deck beams (especially handy when building skin boats) and many other chores. They're also the best tool for cutting minicell foam (the foam makers cut it with bandsaws with knife-edged blades).

Both of my band saws are inexpensive models, so I need the table saw for making long, straight cuts, such as for strips, gunwale boards or rib stock. I also find a jointer and a planer to be very useful. One of these days, I'll replace my bandsaws with a Laguna and...