DavidBrock: So, should I be aiming for clubs with a low or high L#+ ?
I cannot tell you this.
In general, it may be advisable to wait because higher level clubs, on average, are better. For higher shot lengths and added precision or spin, look at high level clubs. Alas, there are a few bargains available.
There are two major points in our WGT "careers" to change clubs: Becoming Master, and becoming a Legend. Both include major steps back on the tees, making a point for longer clubs.
OTOH, the XP gaps between the levels rise from the start, becoming significant at L80 and tremendous at L88. Thus, it may be a torture to delay a purchase decision in this range to level up.
When you search the forums for recommendations, a few clubs or club sets stand out in the reviews. You still have to decide if you want to go the moderate way, buying with a budget, or full in, grabbing for the best equipment available. Same applies to the balls.
For you, an Amateur at L29, the wedges at L39 may be interesting (do NOT wait till L51 since the Starters are crap!). You may go back to the Starter putter, as it's not too bad. You may try the B-ES balls if you accept to cover the costs regularily.
Everything else, wait a few levels unless you go all in. At some time, a 3WD may be a substitute for the driver, and you may feel the need for better irons. Ping i500 at different levels are a solid choice but not top notch.
Decision time is when you become a Master!