When you unlock a level, you can purchase those items at the price shown in the pro shop. You are never "upgrading" your clubs, even when you have the same set that was available at a lower lvl. You buy new ones, and then own both sets.
I played the Nike lvl 64 vapors over the free weekend and prefer my Ping G25's from lvl 59. I'm still using the G25's, until I can buy the lvl 85 Nike VR's. The high trajectory makes a big difference in your shots, softer landings mean less roll.
I don't think you would notice much difference with the 3.0 compared to a 3.5 meter speed on wedges. I used the lvl 38-39 ATV's until I was about lvl 79 or so, and then bought the new Cleveland wedge 588 RTX's available around lvl 74 soon after they came out. The backspin on them is amazing, even with balls with minimal spin, like the WGT G12 S of G13 S. I never tried the lower level Clevelands, so I don't know how much spin the have, but I've read players talk about it being higher also...the are just more spendy.
I agree with everyone who said get wedges first. Better short approach shots means you are closer to the pin. Keep track of your Average Distance to the Pin in your round stats. The lower it is, the shorter your putts are, and the better chance you have of making par, or less on each hole.
If you look at the equipment shown on a players profile page, it will give you an idea as to what clubs higher tier players are using. Finding players of your own tier will do the same thing...I think of it as comparison shopping by checking out the competition.
Good luck,
Phred952