The Nikon FM10 is not built by Nikon at all. It's a generic model 35mm SLR that is sold to Nikon, Olympus, Vivitar, Sigma, Cosina (actually, they may be the people building it). Each brand gets their own label put on it, minor cosmetic differences, and whatever lens mount they want. When I think built like a tank, brick, whatever I am thinking of a camera that is a lot more sturdy than the FM10. I'd say it's build is typical of a cheaper camera design from the 1980s.
It's not that the FM10 is a bad camera; it's just a cheap camera that you will pay more for because of the Nikon label and lens mount. The meter is about as cheap as it gets in 35mm SLRs in the last 25 years, and in my opinion is a big weakness. For the price of a new FM10 you could get a used Nikon FM2 or FM2n, and that is a much better camera. For that matter I can name you a dozen other 35mm SLRs that are a better value used (in the $50 to $150 range) than the FM10 is new (over $200, right?). If they sold the FM10 for $100 maybe, but it is not worth $200+.
I don't know a lot about the Elan 7ne, but it seems like you are asking whether you should buy a mechanical style, manual focus camera or an electronic style, auto focus camera. They are two different beasts, and you should really look over the features and think about what will be most important for the photography you do. I love mechanical style cameras, but I know plenty of folks who can't live without auto-focus. And these days the meters in the cheapest 35mm AF SLR cameras are often better than the best meters 20 years ago.
Here are a dozen manual focus 35mm SLRs I'd pay $200 (most will be cheaper) for used before spending $200 on a new FM10:
1) any Canon A or AE model
2) Nikon FM, FM2, or FM2n
3) Nikon F2
4) Nikon FE
5) Pentax K-1000 or K2
6) Pentax Spotmatic
7) Pentax ZX-M
8) Pentax ME or ME Super
9) Pentax MX
10) Minolta X-700
11) Minolta SRT
12) Olympus OM models (except the OM-10, it's the same as a FM10 with an Olympus mount!)
Sorry if I've ticked off any FM10 users. Remember 99% of the important stuff is between your ears; the camera is just a light proof box. But I have to call it like I see it