Personally I would go with the elliptical because it is lower impact. No point in having a stair stepper if it is going to aggravate your knee. Go try one out to see if it bothers you... You will probably get your heart rate up higher and burn more calories on the elliptical. Thus more fat loss and better cardiovascular benefits. I haven't ever liked stair steppers...not sure why, but I haven't ever found them to be very useful for my goals.
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