Not too sure why you've asked for advice as you clearly have your mind set on that ironmaster, even after you've been given better options.
My parting words as it seems like you're going to purchase the ironmaster regardless: The equipment I linked to you can do EVERYTHING the ironmaster can, gives you a full rack and saves you a couple of hundred quid. I'm not sure how much experience you have lifting but when lifting with a barbell the bar path is very rarely in a straight line (the only motion you can use with the smiths) so you'll really hinder yourself whilst benching for example.
I hope you decide to take the advice given and go for something a lot more useful than the ironmaster but if not, enjoy your home gym and don't forget to buy one of these ...
http://www.powerhouse-fitness.co.uk/bodymax-barbell-pad.php