I am wondering if you would advocate machines over going to a slightly lighter free weight to keep their known advantages? When I was competing, free weights were heavily preached to me because of the external pressures and forced balance they create. The only time we used machines were during cool downs. Has this line of thinking changed over the years?
(Just to butt in rudely! ;D)
I see machines as having their place for sure. I think people taking hard lines of one OR the other is a bit extreme. Free weights are great as stabilising muscles get more work, and people love bandying around the 'real-world functional' argument (gets a bit overused and used in the wrong contexts), but you can still get a great deal of targeted work with machines. Even solely for maintaining and gaining strength, machines still have their place. Especially if injuries are prevalent, machines can help work around that. Still downsides to machines, as it forces you to use only the arc of movement that the movement provides, and doesn't always take into account individual body differences.
But really depends on your purpose for training. As heavy as you can manage, free weights have great benefits for the reasons you listed for sure.