But avoid aerobic exercises too soon after a meal. It's best to exercise in the morning. Only if you enjoy it. It makes no difference what time of day you exercise. Exercising just before bedtime, however, may make it more difficult for you to fall asleep.
Exercise machines are more effective than free weights.
In a word, no. The effectiveness of each depends only on how well you use them. Exercise turns fat into muscle. It only appears that way. One type of tissue can never turn into another type.