My new suggestion for people is that they forget about audio and focus on only buying the pieces of equipment that they themselves were going to be using.
If you're not a cinematographer, don't buy a camera or lights.
If you're not a sound recordist, don't buy mics, audio recorders or mixers.
If you're not a deer hunter, don't buy a rifle.
You will always be hiring or collaborating with people who own the gear. I'm a writer/director and I own a Canon T2i, spare lenses, Rode NTG-2, Zoom H4N, Final Cut Pro...etc, things that I use about once a year (except for FCP). Only spend your money on what you need. You're better off spending on getting people who know how to use the equipment because everything that I've shot on my camera has looked like shit, whereas the stuff I've shot with Phil (see above) looks great.
Just my tuppence worth.
I couldn't have said it any better!
I don't know how serious you will be about your productions, or how serious you are, so you are considering an upgrade, but i can tell you, that I just want it to be as amazing as possible
I consider myself a cinematographer. I have lights, i have grip gear, i have lenses, i have got expensive rigs, i have got top of the line tripods, i have got sliders, follow focus, etc. EVERYTHING you need to make a movie LOOK good! (apart from the actors.. Can't keep them in a gear bag, can you?)
Now, when it comes to sound, what do i own: Zoom H1.. Thats everything. Do i use it? Nope.
So, as Nick said, i think you have to consider what your role in the production will be. Do you want to team up with people who work in the industry or want to work in the industry? Do you want to be the director? The Cinematographer? Sound Guy?
Again, my advice is: Team up with People! It will be much easier to work with a good team than try and handle it on your own! I tried doing that, but failed miserably and found, that the visuals are my strong side! So i get together with people like Nick and concentrate on making it look good! Nick directs the actors, makes sure the production runs smoothly and is the go to guy for script questions, etc...
Sound guy is always on my side! I don't need to worry about mic placement, sound technic, recording level! He just does it perfectly!
That's it. Sorry for the long post. Try to figure out what role you will be in the production!