I mainly do TOA but may start doing theater soon i have around about 540m to spend on gear upgrades. Do i save for the ely or get zaryte vambs and a couple smaller upgrades ?

fuck an ely

Bowfa is good and all
But i would opt for Arma/Masori + Tbow for most content
Shadow is a huge upgrade as well for a ton of things

Ely is barely useful outside of a few niche things so not really worth the investment as it won't pay for itself very quickly