It really depends on what you already have. I have a LN #62 and its one of the least used planes in my shop. Not that it's not a well made plane. I wish I'd bought the #164.
But that said, I have many other planes to use.
If you're starting from nothing, a block plane is a must.
Block plane, If you mainly use power tools. The block plane is handy in tight space and for quick adjustments in fitting and can be carried on your belt. Jack plane if you are going mainly hand tools because it has the ability to do much heavier work.
I'm in the first category and love a good block plane, as long as it's good quality. I made the mistake of buying a few cheaper hand planes when I first started, I mainly loan those to the new people in the hobby shop to do rough work.
Both - a new Stanley 12-960 can be had for < $40 and will work just fine, provided you know how to tune it up. I have nicer block planes, but that one gets the most use because it's small and light. A block plane is the last one to spend premium $ on IMO, but that's based on how I use them. People do things a lot of different ways.
The Veritas LAJ is great for flattening glued up panels and as a shooting plane. I use my #7 more for jointing due to length, but the LAJ works pretty well too. The LAJ is great for jointing/smoothing the end grain of panel glue ups. It can also serve as a large smoother.
It really depends on what your need is. Why do you want a plane? Figure that out and you will get suggestions that are tailored for your needs.
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