Personally, I would go for an olympic bar with ball bearings and a matching set of rubber weights up to at least 350 kg. But that would be mostly for power training for my chosen sport. For a more normal routine, id go with a squat cage that has adjustable catches, olympic bar with weights, and an adjustable bench. Probably would never run out of effective workouts with that set-up, and the cage with adjustable catches helps make it safer if you are working out alone most of the time.
Although benching with a barbell always has a certain amount of risk to it if you dont have an adequate spotter. There are a few unconventional techniques you can use to save your ass in a dire situation. Someone really needs to invent a self spotting system for benching, lol. Perhaps a rack that has hydraulic supports that can lower up and down to catch the weight, lol. i am rambling on a tangent now tho...
ok, my real suggestion for the normal person falls in line with what most others say: adjustable dumbbells and a bench. Don't even have to get all that creative to make that work for every body part.