Yes, dumbells and barbells are very often a better alternative to using a machine for pullovers because of limitations in machine design for pullovers. The problems I've found is with the position of the pads for the placement of the elbows. When you get to the finishing end of the range of motion, it feels as though the length of the armature is too short so it is pushing on the elbows quite hard and is straining on the shoulder joint. The machine designed that way will never be able to effectively replicate the range of motion of every person because of different arm lengths and such, unless the machine does not require elbow pads for you to use it and you only have to pull with using your grip. Then the advantage of the machine would be continued resistance at the end of the rep.
I think that nautilus machine pullovers have no alternative or substitute. Barbell/dumbbell pullovers have a completely different range of motion and target the muscles of the back from a completely different angle. I would incorporate both in my workouts on and off.
I TRAIN AT HOME SO NO PULLOVER MACHINE.TRY STRAIGHT ARM PULLDOWWNS ON A LAT MACHINE SUPERSET WITH DEADLIFTS OR BARBELL ROW.SINCE USING THIS METHOD MY BACK IS NOW WIDER AND THICKER.I SUGGEST THIS TO ANYONE FOR THE PUMP IS AMASING WHICH I NEVER USED TO GET IN THE BACK WHEN TRAINING IT BEFORE.