Definitely do not buy a steam driven machine or a lever/piston machine. In order to achieve your espresso standards your machine has to be able to output at least 9 atmospheres of pressure. If you don't know what that is, that's ok! just remember these words 'Pump' and '9 bars'. Without 9 atmospheres of pressure you can't get that magical thing we call crema. There are lots of machines out there to choose from.
If you're like me, and all you care about is pulling the god shot, then my personal recommendation for home use is the single group Synesso. You can read all about it here.
PID stands for proportional, intergral, and derivative control programs built into the process controller. The advantage of a PID'd espresso machine is that it maintains water temperature within 1 degree. Espresso is very volatile to temperature, if you were to pull 4 different shots at 4 different temperatures, you would taste a clear difference. PID's ensure that it won't fluctuate more than 1 degree from the original temperature which gives you control over your espresso. We'll be talking more about the importance of temperature later, but for now, note that PID'd machines are a huge advantage.
There's something that every espresso expert will agree on:
Your grinder is the most important piece of equipment you'll buy.
This is the last place you want to skimp. it's critical, the grinder is what determines both the rate of extraction and the brew time. If your grinder is grinding in chunks and not consistent your water will find the path of least resistance (the coursest grinds in this case) and over-extract that side of the coffee.
You'll find there are two types of grinders: blade, and burr. The only advantage blade grinders have is price point. Unfortunately price is directly related to the quality of your grinds. For this reason I only recommend that you purchase a burr grinder. When choosing between conical and wheel burrs for your grinder, always go with conical.
Conical burrs are much quieter and less messy, most importantly there less likely to clog. Here's a link to the most current grinder reviews.