Hi MrFW,
I am aware that two opinions can be worse than none sometimes, but nonetheless, I'd like to give you mine. I've been playing for two months now and spending quite some of that time scanning the shop for better equipment. I agree 100% to alosso in terms of price-performance ratio, but if your focus is more on the performance part than on the price, here are some alternative ideas.
As to what is available at your current level (33), I am still using (and being pretty comfortable with) the Cleveland 588 wedges. A few days after starting to play, a friend gave me the 56°, and I purchased the 64° as soon as I could. Their only disadvantage in comparison to the ATVs you favor is the price (x2). They cover distances of 60 resp. 90 yards (+10/-3 compared to the ATVs) and come with better forgiveness, slower meter speed (+ 0.5 each) and, last but not least, a high trajectory (instead of ATV's med/high), all of them critical for more accurate approach shots. Once you are used to them (at full backspin, I see them lose about 6 yards in distance), you won't regret the extra money spent.
I am also playing with a L22 putter (Odyssey versa #7, 1,495 credits). Its stats are identical to the cheaper TM Ghost, so if you're that close to L35, it is the right decision to wait for that bargain (I didn't have the patience ;)). And you will be happy with it until L70 at least.
I happily played the TM driver (L48) for a long time and got the Ping G25s after some advice from friends, so my thumbs up for those. I also agree with alosso on the R11 irons (despite the price) as an interim solution. I would not care much about the hybrid and replace it once you have the Ping irons by a third wedge (e.g. Cleveland 588 60°, 75 yards); at least it iswhat I did.
As to balls, I'd say anything is better than the starter balls, although alosso is perfectly right about the "constant income for the company" part. You will have to trade advantages particularly in spin and meter speed against the costs. Never go for less durability than 2.5 (which most of them have, but still there are some with 2.0). I am using the damn expensive Nike RZN WHite Balls (L40, 600 credits per set) and will switch to the 20XI-S at L70 (450 credits) as soon as I can.
Have lots of fun shopping and playing! :-)