If you purchase this with your computer then it will be a built-in model. A fast modem will download pages faster and theoretically save you money on your phone bills. Buy the best you can afford for longevity of hardware. They are an excellent form of backing storage as an alternative to hard drive and compatible with most machines. Most computers still have built-in floppy drives.
Floppy drives are probably the next piece of equipment to achieve obsolescence.
Printers A printer is a must have. A computer without one will make life difficult for your child. Printers have improved much in recent years and you should be able to obtain a decent quality output for about 120. The quality is determined by the number of dots per inch or resolution. 600 dpi upwards is what I would suggest.