Help me!

(I have no idea which forum to put this into, this one should be okay.)
I've been upgrading my recording setup recently, and have pretty much everything I need in terms of hardware and electric guitars, but I'm still missing a decent acoustic and a bass (at the moment I use my keyboard for bass).
I've got a bit of money (read: student loan, I feel guilty

) to spend on either a 7 String 'Fusion' Acoustic by Emerald Guitars (
http://www.emeraldguitars.com/guitars/fusion.html) which Is about £555 minus shipping, or a Peavey Cirrus BXP 5
string bass and Bass POD XT which comes to just over £600 together.
I've just begun a popular music degree at Uni and I can see the acoustic coming in handy for ensemble performances and what not (at the moment I only have electric guitars) although I would like to learn how to play bass, and it'd definately be useful for recording.
What would you do?
