You answered your own question:"in terms of which exercise I prefer, that's ellipticals all the way." Exercise equipment isn't magical. I doesn't work if your don't use it. Pick what you really want and will use. And if both money and space are tight, what about selling the bike? It would help solve both problems if you aren't using it.
And, as a person who loves cycling, I do not enjoy my trainer and have to force myself to use it just not to get deconditioned.over the winter. Even a high-quality trainer doesn't have the right feel.