My two cents is that bike accessories are just part of owning and riding a bike. I haven't owned a car in 4 years so, yes, I spent close to $1000 for bike/bike parts/bike accessories over the last few years and bike EVERYWHERE.
However, I will say that the FlexFrame bracket for the Kryptonite locks SUCK. I have installed one for myself (and then had a few different pro bike mechanics re-install it, several times and one for a friend and both of them fell off after a few days. I think Kryptonite messed something up with these.
The pannier bags seem a bit pricey - can you get ANY of these things on Ebay, used? Local craigslist is NOT the only option.
Good luck.