As far as I can tell you would just use the ribbon cable, and then connect the wires from there, acting as if the ribbon cable was the Pi's GPIO.
As Steve Robillard said, the ribbon cable will be acting as the Male-Female wire/jumper. If you are tight on space (such as a portable project or a project where you need to connect a lot of jumpers,) then you probably will want to purchase the cables, as the ribbon cable takes up a lot of space. Instead of a 1:1 used GPIO to breadboard space, you'll have used up about a 15 by 3 area on your breadboard for the use of only a few GPIO pins.
While there are only 13x2 GPIO pins, there is overlap on the edges of the jumper's board, leading to a loss of breadboard holes.