I would definitely put the $1500 into DSLR lenses.
Why? Well, size & weight don't matter to me - when I go somewhere to take pictures, well, that's what I am there for, to take pictures. If that is my only reason for being somewhere, which it is, then I certainly don't mind carrying my DSLR with me. If I am not taking pictures, then I am not taking pictures, period. I don't do things that are non-photography related, and think it'd be nice to have a camera along "just to capture the moment".
Good images are worth taking the time and deliberation to set up for. And if it's not going to be a very good, professional-quality photo, then I don't want it, period. Hence, having something to "stick in a shirt pocket"" is useless to me. But having more/better DSLR lenses would be a huge advantage to my image-making endeavors. So, I'll take the lenses.
"Your" and "you're" are different words with completely different meanings - please use the correct one.
"They're", "their", and "there" are different words with completely different meanings - please use the correct one.
"Fare" and "fair" are different words with completely different meanings - please use the correct one. The proper expression is "moot point", NOT "mute point".