I recommend free weights!!! Check this out...
This is my setup:
Body-solid multi-press rack ($349). Free shipping at fitness factory.
bench ($299) . Free shipping at fitness factory.
300lb + 2x45lb oly set ($169). Purchased locally.
Stability ball: $24. Purchased locally.
Jump Rope: $8.99. Purchased locally.
Powerblocks Elite 5-90lb w/stand: about $600-700 (bank statement says $417, but that doesn't sound right, but I'm not saying anything) . Purchased locally.
I'm still well under $2000, the cost of the K1.
I still need to get some rubber matting, a step platform and a foam roller, but I'll have something much more flexible, effective and expandable than either of your options. To add to mine, all I need to buy is 45lbs plates and/or the 8-11 plates for the powerblocks.
Do some more more research, look around more. You can do much better for less than than the cost of a Bowflex or lever action machine.