Thanks for all the information. I am going to get a sharpening block today and try to work on the planers.
Regarding my current tool set up I am actually working with some decent stuff. I inherited a Shopsmith that includes a 3" jointer, band saw, table saw, drill press, lathe, over table router. I also got a plunge router from a garage sale for cheap.
I have also picked out some hardware (bridge, pickups, etc) off amazon to finalize the template with exact measurements. I took my epiphone les paul and traced the back half of the body and free-handed the front portion. Still confused on the electrical setup (pots, bridge grounding, pickup connections) but going to go to youtube university this evening and hopefully get a better understanding.
Hopefully will have some updated pics after this rainy weekend of a rough cut out of the body.