I have too many appliances (toys), DH loves to buy me that stuff for Christmas, they are all kitchenaid, powerful, large capacity.... Food processor w/ slicer attachments, stand mixer, immersion blender, hand mixer, food chopper (pampered chef). I have a cheap blender which I am sure he will replace next christmas.
The blender has a little food processor attachment which is very useful. Oh, they don't plug in, but the microplane graters are excellent for cheese, etc.
Out of all those, I use the food processor the least (it is up on a high shelf and I am waiting to see how long it goes w/o use). I can knead bread, mash potatoes, blend soups, slice vegs, mix drinks, chop onions, all that w/ the other stuff I have. I can make pesto etc w/ the little blender attachment.
I guess I am saying that maybe instead of getting one large (heavy and hard to store) appliance, maybe you could get a few (nice) smaller ones. They are easier to store, don't take up counter space (and I feel easier to clean, I hate cleaning the food processor) and you may end up spending the same amount of money. If you make bread, you may have to choose one or the other, but sometimes the multi use piece may not be the right choice esp if you are low on counter space.
BTW, I notice most people here have the cuisinart food processor, I have the KA and I don't like the way the disks work (never used the cuisinart, so can't compare) but there is always small chunks stuck on top of the disk that don't make it thru the shredder/slicer disks.