If I were to spend a free $1200 on hunting - I think I would stick with my current bow and concentrate on better field time.
I'd get a new set of high end boots and coveralls, better climbing stand, better climbing harness, and better ground blinds. If there was any left, I'd start looking at decoys, a field dressing knife, quality dragging strap, and wool socks.
I intentionally left out arrows, broadheads, etc since those are expenses you would make with or without the extra money.