I'm pretty sure those dumbells don't get nearly heavy enough. The stands are a waste of space and money. The bench may be ok, but it's just a bench.
Doesn't seem like much of a deal to me.
If you really need dumbells then buy some olympic dumbell handles.
You can make them as heavy or light as you want with standard olympic plates. WAY cheaper than those bowflex things.
Or just do what I do and don't worry about dumbells at all. A bar is working just fine for me at the moment.