My gym used to have Cybex treadmills, and I thought they were wonderful. I have often thought I'd like to have one in my home gym that I plan to set up after I move to Missouri. I have absolutely no idea what one would cost, or if they sell to individuals, though. What I like about them is that the surface is easy on the feet and not too hard (and adjustable), and they seem very sturdy; they have lots of bells and whistles, too.
Personally, with your budget and space I would get:
- a Cybex treadmill,
- a good elliptical,
- a good recumbent bike (Schwinn?),
- a bowflex
- free weights and bench
- a stretching station or area
- a 60" TV, and Wii Sports so that I could do that too (it's exercise, but fun). A few exercise DVD's of various kinds.
- uncluttered area, partly covered with mats (for yoga, calisthenics, or whatever), and partly not (for dance, jumprope, or Wii)
Also, if there was money left over, I would consider my favorite individual weight machine, the Nautilus abdominal crunch machine:
Nautilus® Home Fitness Equipment | Nautilus® Commercial Fitness Equipment
They have this at my gym, plus a Cybex abdominal machine and there is no comparison - - the Nautilus machine always has a line waiting for it and it really tightens up the abs. I like a lot of the individual machines like this at my gym, and I have never actually used a Bowflex (but I am figuring it is probably the only affordable, quality option to cover numerous muscle groups at home).