Weight lifting all the way.
Body building is about making yourself look good, weight lifting is about shifting big weights.
Body building has a lot of isolation exercises which have no use in the real world (when's the last time you bicep curled someone off of the top of a ruck?)
in my opinion machines only really give the impression of strength for example a friend of mine can leg press 550ib's but can barely even squat 175 ib's
That's true with many machines, but I've never come across such discrepancy's with the leg press! Afterall, squatting is a very linear movement, and it's therefore easy for machines to accurately simulate the same movements. I'd expect a little more on the machine as I don't think many accurately compensate for all the pulleys, joints, cable stretch etc. An example of this is I usually curl around the 30kg mark on a free-weight bar, but on a machine that figure can rise to 50+kg.