The most important thing is passion. Most of these 'what should I buy' posts are just a confirmation on what an OP has already decided. It does seem he actually wants advice. If getting a new bike instills a passion to double your training, that trumps 'sound advice'.
My point is, there's great advice here, but buy what you want.
Spend more on Travel and Race Entries. Take some trips outside your region. Be the dude lining up from out of town that nobody knows.
If you have a decent bike, and it is a decent fit, and you're a Cat5, the best bang for the buck is to race as much as you can. Coaches are great, but I recommend that you employ one after you have a base of knowledge about yourself, your strengths, and your weaknesses. A power meter helps a lot when dealing with a coach, so that should come first. If you can find a Cat5 clinic in your area, that's a cheap way to get some skills work in. In the meantime, ride in groups and race as much as you can.
If you have the money, use it to take unpaid time off from work so you can ride more. Or, bribe your family to let you ride more.
Hey there's nothing wrong with being fat...
Really stretches out the sponsors' names....
"if you ride it the way it's meant to be ridden there's no way any wife is less of a ***** than a bicycle." - gstein
in general, though, i agree with gsteinb's comments...not on the titanium membership -- but on the notion that while one can surely get better with a ton of riding, one is more likely to get further, faster with focused riding. when new, this is more often done with a coach or mentor. (self-education is surely possible but necessarily takes time away from something else, though everyone values that time in a different way.)