The C&R liscense is great for people on a tight budget, you can buy at wholesale prices instead of retail.
The list of guns to get really depends on timeing, a good deal 2 years ago may be 2-3 times the price today. Pick a gun you like out of the current bargins because they don't last long. There are a lot of good bargins out there but some have dried up in just the last two years that I have been watching the market (I have had my C&R FFL for only 4 months). Also, watch for free shipping deals as this can really make it a good deal once you figuire the OTD price.
Pretty much ANY working gun for $39.99 is a must have! Think about it, how long are the $39.99 deals going to last? You can't buy much today for $40 but sometimes you can get a quality mil sulp rifle, it blows my mind! It is supposed to save you money but like others, I find that I buy more guns than I used to just because they are cheap and I can get them shipped to my home without going through a dealer.
As for good C&R guns, it depends on what you like and what you want it for. I like my Yugo SKS and my Yugo M48A. I also have a CZ-52, M44, Turk Mauser that are O.K. but not up to the SKS and M48 IMHO.