Plus they're really expensive compared to regular dumbbells.
I think if you got a barbell and some free weights, a few dumbbells, bench, pullup bar, and squat rack you could do some serious work.
That Smooth elliptical trainer looks like a good one. It would be ideal if you could try out before you buy. Some ellipticals have the feet spaced too far apart to be comfortable (plus leaving you open to injury).
For your cardio, you might want to consider getting a good rowing machine. I bought a used Concept 2 and love it. It gives a full body workout, exercising more muscle groups than most other forms of cardio. It also works your muscles through a wide range of movement so you help your flexibility. (I'm not on their staff or anything, I just really love it. As a former runner, I used to hate having to do any form of indoor training. If I was injured, I'd rather get out of shape rather than do some form of indoor training. Since I got my rower, I've become addicted!)
http://www.concept2.com/Default.asp?bhcp=1