We consider the parameters of an entry-level neutrino factory designed to m
ake the first observation of nu(e) --> nu(mu) oscillations, measure the cor
responding amplitude sin(2)2 theta(13), and determine the sign of the atmos
pheric-scale delta m(32)(2) via matter effects. A 50 kt detector, a stored
muon energy E(mu)greater than or equal to 20 GeV and 10(19) moon decays wou
ld enable these goals to be met provided sin(2)2 theta(13)>0.01. The determ
ination of the sign of delta m(32)(2) also requires a baseline L greater th
an or equal to 2000 km. An upgraded neutrino factory with O(10(20)) decays
would enable the first observation of nu(e) --> nu(tau) oscillations. With
O(10(21)) decays the effects of a large CP phase could be measured in the c
ase of the large angle matter oscillation solution to the solar neutrino an
omaly. Our analysis includes a family of three-neutrino models that can acc
ount for the atmospheric and solar neutrino oscillation indications.