Everyone should use machines, then I'll never have to wait to use the free weights!
Seriously, if you don't want to kill yourself benching with no spotter, try using dumbells instead of a barbell. Or, bench in a power rack with the safety bars set just above chest level. I'd be more scared of getting stuck under a bar using the smith machine than getting stuck using a barbell- at least you could shimmy the barbell down your body or off to the side. If your gym has a power rack with safety bars you have no excuse for not using free weights.
Also, using the smith machine or other fixed motion machines forces the body to adapt to the machine rather than having your body move the weights, and this can create a lot of stress in your body, leading to injuries long term.
Safety issues aside, the bottom line is that the strength you build using machines does not apply as directly to real world movements as the strength built using free weights. Basically read stronglifts' explanation, he summed it all up.
With that being said, machines are nice for a few movements. I use machines for pull throughs and occasionally seated rows and lat pull downs, but that is all- cable movements. I'd also use a reverse hyperextension machine if my gym had one.