Gold's Gym Power Rod Multi Gym/Weight Bench

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Anyone used this? I want to get a multi gym to supplement my cardio exercise on a cross trainer, but am not sure if this type of resistance machine is as effective as a weight based one?

http://www.amazon.co.uk/Golds-Gym-Weight-Resistance-Weights/dp/B003FUZMFK/ref=wl_it_dp_o_npd?ie=UTF8&coliid=I3CGDT5CGIRYHX&colid=1P36QKDXEOZDM

Cheers

Ian