Kevin,
For your application, the parallel guide is not necessary. I demo the Cantex all the time without it. Because the micro height adjustment of the cutter is so accurate (.004" per click of the dial), you can mike the height in right where you need it to be and the cutterhead will float above the substrate. My customers who use the parallel guide do so typically when they want to plane solid wood edging slightly deeper when it's applied to a laminate surface, so that when they apply the finish to the wood, the thickness of the finish is co-planar with the surface of panel. Keep it in mind if you have a project where you may need it, but for your application you'll be fine without it. Just make yourself up a practice blank and play around with the height adjustments at first and then it's a breeze and you'll love. My favorite machine - I used to do all my solid wood edging with a pattern bit and a router - wish I had known about it! Machine is a no-brainer if you do a lot of solid edging.
It's not the cheapest, but it's the world's best by a mile and it'll last you the rest of your career.