I assume you are talking about a hand-held power tool, not a table router/shaper.

Be sure you get a "Plunge Router". It makes working inside designs such as signs a lot easier. A regular non-plunge router is great for working edges and can be used for other stuff but makes the job a little harder.

As far as bits go, I'm sure you can get a basic set somewhere. Should have a 45 deg champfer, a couple of round bits in different sizes, straight side bits and perhaps cove and molding shapers.

The best bits have a ball bearing guide pin so that you don't friction-burn the wood.

Craftsman always made good tools of this sort. As you may know, Lowes bought out Craftsman tools when Sears went tits-up.