That shermworks one doesn't go into the details, but I bet one of the ways to use their setup besides throwing the ropes over a floor joice is to duct tape the ropes to a solid piece of dry wall...
I don't think I'd want to spend more than 600 on a cage and bench together, as I'll have to get the actual weights/bar/place to rack the weights when not in use etc too.... What I'm willing to spend is going to be directly influenced by the cost to repair my machine... if repairing the machine is dirt cheap then I probably wouldn't buy anything else for now, but if I'm looking at a few hundred dollars or more, then I'd rather invest in the freeweights and cage setup. The machine survived regular use for quite a while, but it'll only break faster the next time (I imagine the part that bent is likely to bend in most situations where people used anywhere near the maximum weight on the machine over time).