if you want upperbody strength ofcourse the basic exercises (bench press,squat,deadlifts) will do a much better job of improving strength then any machine will. So you are definately better off sticking to the barbells and dumbells rather then the machines. if you have some weight you want to get rid of. train abs about 3 times a week and do 30 mins of cardio.

and as for a split goes. it all depends on how many days a week you want to go to the gym. as you said time isnt a issue, and 2 hours is plenty for gym time.

so how many days do you plan on going to the gym? then maybe i can help you with a split

~GG