I'm excited for you to get to spend that much at a LQS. My thought would be to buy maybe one or two "must haves" or maybe some charm packs and a pattern for those. I have one for a small tote to be made from the charm packs. My sister liked it so much, I bought her the pattern and gave her my charm pack I had. Now I'm waiting to find another charm pack for me that I like. But all together, those two items were only about $20-$25. How about a notion or two that you can't find at JoAnn's?
Personally, I buy fabric from where ever I can get it. Lately it's been Wal-mart. If I like the feel, then I buy it. Only one time have I spent over $50 at a quilt shop and that was at a tent sale. I purchased fabric that averaged about $5 a yard. They were end of bolts and I got probably 8 yards, some older magazines for $1 each, and a pattern. I had a great time even though I didn't shop from the "latest and greatest"!