I've found the LBS about as cheap as online or WM on things like chains, cables, tubes etc.

I'd take a hard look at my list and determine what is a "nice to have" vs a "got to have". For example, can you just sand the brake pads instead of getting new ones.

I'd replace the "got to have's" and ride a few trails to see if you even like the bike. Once you determine you want to keep it and are going to ride more, I'd look at some of your "nice to have's".