It definitely is cheaper, but pan roasting coffee on a stove can take quite a bit of time, is a fire-hazard, and causes quite a bit of irritating smoke and fumes for a few days. It sure tastes good though.
It's certainly cheaper than an official bean roaster. I'll have to buy one and see what a popcorn machine is, because I don't think I've ever seen one, and I assume you aren't talking about the ones at movie theaters.