You should seriously consider making mortises with a plunge router before going this route. I'm not trying to stop you if you are convinced that a mortiser is for you, but I switched to using a plunge router and then sold my square chisel mortising machine. The plunge router just does it better, faster, and easier.
1. A plunge router and a straight bit makes much smoother, more precise cuts, so your tenons can be made to fit better.
2. You probably already own the router.
3. You can make "floating tenon" stock using your table saw, and you don't need the tenon cutting fixture for the table saw. If you have a planer you can make them fit the mortises perfectly.
4. You can round the ends of your tenon stock or just leave them square and leave the 1/2 round spaces in the ends of the mortise for glue squeeze out. Most of the strength of a M&T joint comes from the long sides of the tenon and how well it fits and is glued to the sides of the mortise.
5. Floating tenon joinery lets you make matching mortises in both parts with only one setup for most joints.
6. You don't need to make tenons on the ends of your mating parts. Making tenons that are in the right position and are exactly the right size is difficult and takes many steps using a table saw and/or a router table, usually requiring a lot of hand work to get the fit correct.
Again, don't listen to me if you are totally convinced that a square chisel mortiser is the way that you want to go.
Charley