Cheap tooling – go for the shaper.
Drilling or boring – forget the shaper!
I have just put out feelers for a shaper, even though I have picked up a really basic manumatic one.
The Eng, tech, at the college I worked at twenty years ago, rather coloured my view of shapers – a jaundiced one – and until I watched Emma in her spareroom machineshop making T nuts I had little interest in shapers. It has changed. She inspired me to try one. But a manumatic shaper is entirely different than running a powered version.
However, a mill will do far more than a shaper – curves and straight lines, as opposed to straight lines (normally)- so a vertical mill has to take precedence. Every time. A shaper set up can be left to chunter along, doing its thing – slow and reliable – while you get on with other faster jobs which must be watched. A bit like a mechanical hacksaw.
Just list the manipulations of each and cross off the common ones. Then decide if you can do without one or the other. It will be the shaper that is crossed off. But if you want to knacker your quill (or long travel) on your small hobby mill (or lathe) go ahead – but a shaper would do those jobs all day long with no detriment to the machine. Horses for courses!