I just wanted to share my thoughts on the topic. Previously, I've posted additional thoughts on the topic, here.
COST - IT'S ALL RELATIVEYou should spend more money on the things that are most important to you. If photography is important to you, then the extra money you spend to get someone who you think is out of your league could be worth it to you in the long run. Remember, your pictures are about the only things you keep after the wedding. The dress may or may not be kept. The food and drink gets consumed and is gone. The day is over. What are you going to have left to remember it all? Just your pictures.
I read recently in a bridal magazine that the statistics show, on average, photography is the #2 expense in a wedding ... coming in at 15% of the budget. That's right after the reception/food/drink/catering budget which was around 40% of the total budget. I found it interesting that the photography budget was 2x the expense of the dress. So how much did you spend on your dress? Not saying that this is a hard and fast rule or anything, it was just an average.
Something to consider and ponder.