Arufell, I would have to agree with the comments of Euro and Jon here. I too am in the process of building a home gym. Out of the options, that barbell kit with the rubber tri grip weights looks a good purchase so I will probably go for that.
Dumbell wise, if you are into strength training then the weights of that set might become a bit limiting for you. If your intent on it, and can afford another £50 or so get dumbell handles so you can make the heavier dumbells like in this
http://www.fitness-superstore.co.uk...-olympic-dumbbell-handles-spring-collars.html. Personally if I was faced with the decision of dumbell set like that, with the possibility of having both for space/money wise a power rack and smith machine, then I would rather drop the dumbell set as I do like smith machines. I think those dumbells will take up a bit of floor space although not sure how much.
Personally, the choice of one, between rack and smith, I would take a rack all day long. Only leg pressing would be the one thing a smith could do I would imagine that you can't do on a rack.
I remember first few years of training, all I did was my benching off of a smith machine, made good gains size and strength wise. But then when I started to use free weights realised how bad my form and strength development was. I was bench pressing more on my right hand side than left hand side and the weights would slide about. With a smith machine you can't always be sure how your pressing. Maybe its just a problem unique to me.
But if Smith Machine is the way that you want to go, then the smith machine listed if its self spotting, seems like a goodun.