If it all had to be spent on photo gear, then I'd first look at gear that won't go obselete as fast as a digital camera body. First would be lenses, then maybe a monolight or two and a pocket wizard system. Since I shoot Nikon, I'd go with some of the newer flashes, then look at a DSLR body with whatever I had left. I guess I'm assuming I can use what I already have with this but if not, a carbon fiber tripod and ball head (worth every penny!) would go high on the list too...