The third tool for the beginner is the Jigsaw. A jigsaw allows the user to cut curved and circular patterns in stock. Sure, a band saw will likely be more accurate and can cut thicker stock, but for the beginner, the jigsaw (sometimes also referred to as a Sabre Saw) can be perfectly effective. For versatility, choose an orbital-action, corded jigsaw that feels good in your hand and has an easy blade changing system.
I agree, that’s a nice and easy set up to start with. I’d say a block plane it’s handy for small areas, and touch ups. A no.5 is excellent but a bit heavy and tiring sometimes. I find that a nice rabbet block plane (shoulder + block) with two irons with different sharpening angles it’s essential to me. One fine flat rasp and a medium flat file would complete my set.
Wooden mallets are mostly used for hitting your chisels when cutting joints (like dovetail joints or chopping mortises). You should never hit a chisel with a metal hammer. Build or buy a mallet that is made of fairly hard wood (e.g. maple, oak, beech wood, etc.), that will feel well balanced in your hand, and that gives you enough weight to chop with your chisels.