Squatting in a Star Trac MaxRack 3-D?

My gym just got a Star Trac MaxRack 3-D. It is basically an upgraded Smith machine that allows movement in the up/down and forward/backward planes, but not left/right. Here is a picture:

We all hate on the Smith machine, but how about the MaxRack?

I’m contemplating using it for squats, rack pulls and maybe bench presses too. The attraction is the safety factor, since I often work out alone and the squat rack in my gym is in an unsafe position (gym traffic) and is too low for me.

Thanks for your input!

PS. And does anyone know how much the bar weighs in this thing?