If you don't know what a smythe machine (smith here in the states) then you are better off not knowing. It is damn near worthless. But that is not what you were looking for, and I am in a good mood, so here goes:
A smith machine is an apparatus designed to make certain barbell lifts easier and more safe. It is basically a barbell attached to 2 vertical shafts with a safety mechanism that is adjustable up and down to catch the bar in case of failure.
the device is utilized by taking the bar off the catches, spaced about every 3 inches or so, and twisting the bar to swing the catch hooks away from the catches, so as to free up the bar for travel.
It is commonly used for squatting, benching and overhead presses. It is a piece of equipment that is in most gyms and most of them could do without it. The stabilizing effect of the vertical shafts takes away a ton of the benefit of doing squats, bench presses, and overhead lifts in the first place: namely working the stabilizer muscles.
Beware the use of a smith machine can lead to the consumption of MuscleTech, and the belief that spandex and leg warmers look good on a guy. Powerlifters avoid this machine like a case of the herpes.
THE POWER RACK
This on the other hand is where I can be found at least 4 hours per week. The rack, as I call it, is a cage made of 4 vertical posts, with holes cut in them every 1 to 3 inches. The purpose of the holes is to allow a place for the placement of J-hooks (for racking the bar) and for safety bars (to catch you when you fall).
I do all my squatting in the rack. Set the pins up where you won't get killed if you miss the lift, then put a box down and get to squatting.
I also do all my benching in the rack. A regular bench is not as versatile as the rack. You can do everything in a rack you can on a regulation bench, and much more. My rack is raised so I can choke bands around the base, I can also do suspended band presses, and the pins are a great place to have the bar for rack lockouts.
The very first thing to invest in for a gym is a power rack.
B.