Help with a decision

I currently own a bowflex ultimate, I know a lot of you will give me some grief, but I don't mind it. I don't like it for certain exercises especially arm work outs. Even though you can do squats, I think they really suck. I would like to purchase some dumbbells to go along with it, or even one day replace it. I do not plan on selling it in the future, but who knows what could happen. I am looking into some ironmasters or powerblocks. I can get the powerblocks 5-90 elite set for $524 with shipping. But anyways, I am also looking into purchasing some free weight plates from walmart, with a ez-curl bar and dumbbell bars. I can get the bars and 110 lbs of weight for only $120. My space is limited, and I will be moving within the next few months, so I don't really want a lot of dumbbells/plates to lug around, but there is a huge price difference in the two set up's. Give me your opinions out there, I am really leaning toward the powerblocks, but the free weight set up is so much cheaper.

I could give you a suggestion but I don't completely understand your goal. What are you aiming for. Olympic set with 300# of weight is all you really need along with a bench and the weights themselves range anywhere from 100 dollars to 200 dollars. I got mine for 110 from Dick's two years ago. What are you specifically trying to achieve? Maintaining the use of the bowflex instead of an olympic set and use dumbells for other workouts?

I am trying to get back into hitting the weights gain strenght/muscle, try to loose some flab. I have a bowflex, that I use for everything currently but I do not like it at all for certain exercises, especially arm workouts. I would like to buy some dumbbells to do my arm workouts, and whatever else that it may work better than my bowflex does, maybe some dumbbell squats, ect. I am interested in the powerblocks or other adjustable's due to having a small house, without a lot of room to workout in. I am not going to purchase a full bench and weight set up, since I have my bowflex. I am not planning on replacing my bowflex at this time, I do like it, but I want to do some free weight dumbbell exercises. I am looking into free weights plates and dumbbell bars or adjustable dumbbells to go with my bowflex. My current workout room is in my bedroom, which isn't huge amount of space.

    I am not familiar with the powerblocks but I know that they are supposed to be high quality. Adjustable one's are pretty good and would do you justice if you could find enough weight for them and also not be annoyed by unscrewing and sliding during your workout. That can be annoying and slow you down if you ever superset.

Yeah, I am afraid I will get annoyed by unscrewing and adding/removing plates, versus just readjusting a pin. But there is a huge price difference. I am going to go this weekend and try out the powerblocks to see how they feel, but $500 is a lot of mula, but cheaper and more convienent than traditional dumbbells.