It's also about how fast you can go through a work out. I would do a lot less lifting if I used free weights; machines let me change weight fast.
Of course, I'm 48, and when I was 18 I would have laughed at what I just said, because I was powerlifting. But my needs are different now. I do 30 minutes of interval training cardio, and 20 (or so) minutes of weights. I do 2 (maybe 3) sets. The first one is about 12 reps, where I do 4 warm-up reps, 4 at medium weight, at 4 at just-below-what-I'm-lifting-that-day weight (depends where I am in my cycle). I need machines to be able to change the weight "on the fly." Then I do a second set to failure (again, how many reps depends on how much weight I am pushing that week). This quick routine gives me the workout that I am looking for at this point, and I can get it done in the time I am willing to commit (4 days/week).
If you don't know what I mean by "where I am in my cycle" (I'm male so it's not that) check out this link:
http://www.deepsquatter.com/strength/archives/tomdesign.html
The only problem is I may be running out of weight on some of the machines. I'll deal with that problem when I get there, though. The more likely result is that I'll lay off the weightlifting for a while and have to "rebuild" before that happens (if, say, I start sailing alot).
Edit: typos