I have a some money to spend, and a birthday coming up, so I'm getting together my first backpacking setup put together and decided to go with a hammock for shelter. I'm almost positive I"ll get a Warbonnet Blackbird XLC, but wanted some advice first.

I only plan on doing 3 season camping to start the first year or two, but the majority of trips will be in the summer or early fall (September). For temperature reference I live in NJ and plan on going out around here, NY, and PA to start out.

Aside from the WBBB I'm going to need a tarp, and some sort of quilt. This is where i need help since I only have enough for the hammock, and maybe $200 more to spend. Some questions:

1) Do I splurge on a Superfly tarp, and cheap out on an overquilt/sleeping bag? Or do I go mid-range on both?
2) Do I even need an underquilt at this point if the lowest temp I'll probably see this year and next is 40-ish degrees? Will a cheap pad or reflector be good enough?

Any other noob advice is welcome as I've never even tested out a hammock at this point. Am I rushing this? I figure if I'm going to go for it and have the dough I might as well get one of the best, right?