This is a rather strong argument for theistic belief. I find it rather convincing.

But, it should be noted that the generation of a universe from nothing is on a different, more primal level than the generation of a mere balloon in a room out of nothing. The idea of nothing existing is actually quite extensive. Does this imply that there was no space? Does this imply that there was no time?

By its very nature, that it is something almost impossible for us to even think about, some people do not find this argument compelling for belief in God. Others find it to be even more powerful proof.

Yes, that is what it means.

There is a Law of Faith  - by that Law everything that was made was made - Faith is a substance ----in the spirit realm it is what governs --- the natural man will never understand this. It is a supernatural force - I use the Law of Faith constantly --- and "things" appear usually within 24 hrs (I could give you a list), ask and it is given -believe and receive, how could He not give us all things?  :) 
Fact, Law ----no magic.

Sometimes I use the Law of Sowing and Reaping and I might reap in 6 months - it is guaranteed - more dependable than turning on a light switch and the light turning on from my experience.

Faith is the most powerful force in the Universe - it is from Spirit that all matter was created ---and again, Faith governs in the Spirit realm.

Oh, how I wish my brothers and sisters in Christ would really open to the wonder and happiness of living in the Kingdom -where all authority and dominion has been passed to us.  I'm a baby Christian - and this new world Christ has told us about is unfolding everyday for me. 
Praise God, Who is beyond our imaginations and may His will be done on earth as it is in Heaven.
   

Apparently the skies the limit based upon the logic presented.  Why stop anywhere?  Let the creative imaginative juices flow, and whatever comes to mind can be actual fact, somewhere, sometime, somehow.  Just one question: do I have to drink poison when you all do?

Don't be silly.  Of course you don't.  That would be your choice of course and would create your own outcomes.  It's simple cause and effect, you have free will and may exercise it as you wish.  Each choice you make has consequences.  You, like Neo in The Matrix are free to choose the blue pill if you want. 

Nothingness, by it's very nature precludes space and time, for both of those concepts are relative.  ie: time requires something before and/or after which requires at least two points of reference which, by the definition of nothing is at least one more point than is permitted.  The same is obviously then also true for space, or any other concept other than a dimensionless point.

That single eternal yet instant, dimensionless point is the most rational concept of God I can think of.

     I couldn't agree more and would have no interest in such a philosophical discussion as it would be likely to rapidly become whatever the discussors defined the terms to mean. 

     A discussion of the nature of the universe that does not both obey the rigours of scientific method using mathematical and physical terms as they already exist and agree with and enlighten the message of the Bible and the teachings of Jesus and the apostles would be a most disagreeable kind of mental self stimulation. 

     But then, that would be science, the "how" of a thing, rather than the philosophical "why".